Rivian CEO Teases R4, R5, and Possible R6 as Affordable EV Roadmap Expands

Rivian CEO RJ Scaringe has hinted at a broader lineup of affordable electric vehicles, including the R4, R5, and potentially an R6, following the launch of the R2 in early 2026 and R3 in 2027. The comments came during his appearance on Daniel Tosh’s Tosh Show podcast, where he also discussed the company’s ongoing production ramp and financial headwinds, reports Autoblog.

Q2 2025: Losses Amid Factory Retooling

For the quarter ending June 30, 2025, Rivian reported a net loss of $1.115 billion, an adjusted EBITDA loss of $667 million, and $1.3 billion in revenue — resulting in a $206 million loss in profit. Vehicle deliveries reached 10,661 units, while production totaled 5,979, down year-over-year due to planned retooling ahead of the R2 SUV launch.

Despite the dip, Rivian maintains its full-year target of 40,000–46,000 deliveries. Scaringe said the company has “substantially completed the expansion” of its Normal, Illinois, plant and has begun installing production equipment. He added that R2 development, testing, and the company’s autonomy platform remain major focus areas.

Future Models: Affordable Mass-Market Segment

Scaringe said Rivian’s product plan currently includes up to six vehicles:

“After R1, there’s R2 and R3. And after R2 and R3, there’s R4 and R5… But there may be like an R six. I don’t know… The R4 and R5 are so cool. […] But that’s the next, next thing after R2 and R3.”

A 2024 Investor Day presentation showed three covered silhouettes labeled “Affordable Mass Market,” which may correspond to the R4, R5, and R6. While subcompacts and wagons were hinted at, Scaringe has previously noted limited U.S. demand for such body styles, suggesting some models could target European markets.

Expansion Challenges and Market Outlook

Entering Europe may require a dedicated factory, a costly move as Rivian’s Georgia plant faces delays. Financial pressure remains, with UBS cutting its stake by nearly 35% in Q2 — selling 10.1 million shares worth $261 million. However, Benchmark analyst Mickey Legge reaffirmed a Buy rating, citing confidence in Rivian’s “growth trajectory” and ability to scale into the R2 launch after speaking with Rivian Finance VP Derek Mulvey.

Positioned for the Outdoors EV Market

Rivian continues to differentiate itself from Tesla, Lucid, Ford, and GM by catering to adventure-focused buyers. Its under-$50,000 R2 SUV aims to broaden EV adoption, while future R4–R6 models could extend reach into mass-market segments. Yet, execution will hinge on managing production ramp-ups and navigating capital-intensive expansion.