Rivian will unveil the cheaper and more efficient R2 on March 7

Rivian will reveal the R2 on March 7. The corporate confirmed on Monday in a publish on X (Twitter) that clients ought to “prepare to fulfill R2 on March seventh.” Rivian CEO RJ Scaringe beforehand stated the next-generation platform could be smaller and cheaper than the R1 lineup.

The automaker hasn’t but stated the place the occasion will happen, however it can all however definitely be in Laguna Seaside, CA. Final month, its metropolis council publicly posted an authorized request in its minutes for a “Rivian R2 Launch,” a part of a “worldwide product launch occasion on the Rivian Theater” on the identical date. If that wasn’t sufficient of a clue, Rivian’s X teaser included audio of waves crashing, beachgoers taking part in and seagulls squawking.

Rivian representatives reportedly plan to carry the occasion on the Rivian South Coast Theater in Laguna Seaside. The automaker purchased the cinema (which opened in 1937 and closed in 2015) in 2021 earlier than renovating and reopening it this previous December. The corporate requested the council for permission to show six automobiles on a grassy public space close to the theater, which sounds preferrred for a media hands-on space after a proper presentation inside.

The R2 platform is expected to start out with a smaller SUV (reportedly in regards to the dimension of a Jeep Grand Cherokee) priced within the $40,000 to $60,000 vary. R1 platform automobiles begin at round $80,000, though some fashions are available for leasing, which makes them eligible for a full $7,500 tax credit score.

When Scaringe held an Instagram Q&A final yr, he stated the automobile’s anticipated supply date had slipped from 2025 to 2026. So, except Rivian’s plans have modified dramatically since then, count on the March occasion to precede an extended waitlist interval earlier than you’ll be able to take one dwelling. Rivian nonetheless hasn’t began building on an upcoming Georgia factory that may produce the R2 lineup.

Rivian loses about $31,000 on each R1 platform automobile it makes because the EV maker positions its model for an all-electric future. The R2 is expected to be extra environment friendly (with extra accessible pricing) because the automaker tries to pivot into profitability. The corporate’s CEO stated in late 2023 that it was chatting with a “pipeline” of commercial customers for its electric vans after its four-year exclusivity agreement with Amazon ended. Nonetheless, it nonetheless plans to satisfy its contract with Amazon, which requires the supply of 100,000 vans to the net retailer by 2030.