Rivian has made headlines with its recent announcement: the electric vehicle manufacturer will launch its new hatchback, the R3X, ahead of the base R3 model. According to CEO RJ Scaringe, the R3X will hit the market shortly after the production of the R2 model starts, which is slated for 2026.
Why R3X is a Priority
In a recent interview, RJ Scaringe revealed that the first version of the new model to be released will be the R3X. This particular model was introduced alongside the R3 during the debut event for the R2 in March, attracting significant attention. The smaller size of these hatchbacks compared to the SUV R2 may help revive the sluggish small car segment in the United States.
Shared Components with R2
The R3 and R3X models will share essential components with the R2, including single-, dual-, and tri-motor powertrains, battery packs, and structural elements. These shared features aim to keep the base model R3 under $45,000, while the R3X version is expected to be more expensive.
Volkswagen Group's Investment
The Volkswagen Group plans to invest up to $5 billion in Rivian. This significant investment will grant VW access to Rivian's electric architecture and software, while providing Rivian with much-needed funding to bring both the R2 and R3 models into production.
