Rivian has announced that it will unveil the R2 on March 7, as confirmed in a tweet posted on X on Monday. The company’s CEO, RJ Scaringe, has previously hinted that the upcoming R2 platform would offer a smaller and more cost-effective alternative to its existing R1 lineup.
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While the exact location of the event has not been disclosed by Rivian, all signs point to it being held in Laguna Beach, CA. The city council’s approval of a request for a “Rivian R2 Launch” aligns with rumours of a “worldwide product launch event at the Rivian Theatre” on the same date. Additionally, Rivian’s teaser on X featured audio clips suggestive of a beach setting, further indicating Laguna Beach as the likely venue.
Reports suggest that Rivian intends to host the event at the Rivian South Coast Theatre in Laguna Beach, a venue it acquired and renovated in 2021. The company’s request to display vehicles near the theatre suggests plans for a media hands-on area following a formal presentation indoors.
This is it. Get ready to meet R2 on March 7th. pic.twitter.com/N2CKDTTZ5I
— Rivian (@Rivian) February 5, 2024
The R2 platform is anticipated to debut with a smaller SUV, roughly the size of a Jeep Grand Cherokee, priced between $40,000 to $60,000. In contrast, vehicles based on the R1 platform start at around $80,000, with some models available for leasing, making them eligible for tax credits.
Scaringe’s previous statements during an Instagram Q&A indicated a delivery timeline for the R2 shifting from 2025 to 2026. Thus, potential customers should brace for an extended waitlist period post the March event. Despite Rivian’s ambitious plans, construction has yet to commence on its upcoming Georgia factory slated to manufacture the R2 lineup.
Notably, Rivian currently incurs significant losses on each R1 platform vehicle produced as it transitions towards a fully electric future. The R2 is anticipated to offer improved efficiency and affordability, reflecting the company’s strategic shift towards profitability. Additionally, discussions with commercial clients for electric vans have commenced following the conclusion of a four-year exclusivity agreement with Amazon. Nonetheless, Rivian remains committed to fulfilling its contractual obligations with Amazon, aiming to deliver 100,000 vans by 2030.
