The Rivian R2 SUV
The Rivian R2 SUV
  • Rivian revealed its latest electric vehicles on Thursday, the R2 and R3. 
  • The R2 SUV starts at a more affordable $45,000.
  • Rivian also surprised fans with a new crossover SUV, the R3.

Rivian on Thursday revealed two new SUVs: the long-awaited R2 SUV and a surprise, smaller version called the R3.

The smaller and more affordable follow-ups to its popular R1T truck and R1s SUV are designed to reach more mainstream customers than Rivian's pricey R1 and R2 trucks.

The R2's $45,000 starting price puts it more in line with the average new car transaction price at a time when demand for more expensive EVs is drying up.