08:13 AM EST, 03/08/2024 (MT Newswires) -- (Updates with details on Georgia plant construction halt in fourth paragraph.)

Rivian Automotive ( RIVN ) on Thursday unveiled R2, R3 and R3x vehicles built on its new midsize platform.

R2 is a mid-size sports utility vehicle, with pricing expected to start around $45,000. It is now available for reservation in the US and deliveries are expected to begin in H1 of 2026, the company said.

Deliveries of midsize crossover R3 and its performance variant R3X are expected to begin after R2, the company said, adding that R3 will be priced below R2.

Meanwhile, the company said it is pausing plans to build a new factory in Georgia in a bid to save more than $2.25 billion in expenses.

Rivian shares were about 1% higher in premarket trading on Friday.

Price: 12.62, Change: +0.11, Percent Change: +0.88