Rivian will reveal its next-generation car — a smaller, cheaper electrical SUV referred to as R2 — on March 7, the corporate introduced Monday morning.
There’s little different element concerning the occasion, although it’s anticipated to be held in Laguna Seaside, California, as the corporate not too long ago filed paperwork for an occasion there beneath the title “RIVIAN R2 LAUNCH.”
The R2 is a giant alternative for Rivian. It’s alleged to retail within the $40,000-$60,000 vary, making it much more inexpensive than the R1S SUV and R1T pickup truck the corporate’s been promoting for the final two years. Rivian CEO and founder RJ Scaringe has mentioned the R2 can be made at a bigger scale than its present autos. The R2 received’t be obtainable till at the least 2026, although, as the corporate nonetheless must construct the manufacturing unit in Georgia the place it plans to make the SUV.
Rivian constructed greater than 57,000 autos in 2023 and delivered simply over 50,000, together with the business vans it makes for Amazon. Nevertheless it’s nonetheless dropping hundreds of {dollars} on each one of many vehicles and SUVs it makes on the R1 platform. The platform that powers the R2 SUV needs to be extra environment friendly and, when produced at scale, may assist the corporate push itself into profitability — particularly as Rivian builds different autos on the brand new platform.