Published on March 8th, 2024 | by Sounder Rajen

Rivian Is On A Roll As It Previews The R3 Lineup Right After The R2 Lineup

Rivian is going all out for cheaper EVs so will it come to Malaysia soon?

Rivian recently introduced its smaller, less expensive electric R2 SUVs and R3 crossovers with plans to start producing the R2 at its existing U.S. factory to hasten deliveries in the first half of 2026. The R3 would be an even more affordable version and likely the brand’s bread and butter lineup for international exports.

Rivian raised more than USD3 billion (roughly RM14,067,000,000) with two bond issuances last year and has just over USD9 billion (about RM42,201,000,000) in cash, but some analysts and investors say it will need additional capital by 2026. This is to speed up production of the R2 lineup of vehicles.

Moreover, while Rivian has already divulged so much information about the R2 lineup of electric vehicles (EVs) including its timeline for production and prices, the brand remained quite mum regarding the R3 so information about this lineup of EVs is very limited at the moment. However, here is what we do know.

Rivian produced 57,232 vehicles last year and said growth this year would be flat as it tackles slowing demand and production downtime to make upgrades intended to cut costs and improve margins. Despite the immense popularity of SUVs and pickups in the U.S, ramping up production and generating demand.

While no price has been announced, Rivian did preview the R3 and a more powerful R3X variant not too long ago. The R3 will cost less than the R2 and be launched after that vehicle. Rivian did not disclose any other details but the R3 and R2 are built on the same platform and it should be relatively easy to roll out one after the other.

On top of that, AutoForecast’s Fiorani said his firm had forecast the Rivian R3 launching in 2028, but he said in light of the announcement, production could now start in 2027 and the vehicle could be priced between USD40,000 (about RM187,632) and USD45,000 (roughly RM211,086).

While demand for EVs in Malaysia is rather high compared to Western countries, the horrible value of the ringgit on the global market, the price of many EVs is just too hard to justify here, the Rivian R3 lineup may not suffer from this though. Given how expensive the R1 lineup would be here in Malaysia, the R3 would likely be the best bet the automaker has if it were to enter Malaysia.