Rivian will unveil its next-generation car, a smaller, less expensive electric SUV known as the R2, on March 7, the firm revealed Monday morning.
There’s nothing else known about the event, although it’s believed to be hosted in Laguna Beach, California, where the business recently filed paperwork for an event called “RIVIAN R2 LAUNCH.”
The R2 represents significant potential for Rivian. It is expected to cost between $40,000 and $60,000, making it far less expensive than the R1S SUV and R1T pickup truck that the business has been selling over the past two years. RJ Scaringe, Rivian’s CEO and creator, has stated that the R2 will be built on a greater scale than its present cars. The R2 won’t be ready until at least 2026, as the business still needs to build the facility in Georgia where the SUV will be manufactured.
Rivian produced approximately 57,000 cars in 2023 and delivered slightly over 50,000, including commercial vans for Amazon. However, it continues to lose thousands of dollars on each of the trucks and SUVs built on the R1 chassis. The platform that drives the R2 SUV should be more efficient, and when built in large quantities, it might help the firm achieve profitability, especially when Rivian builds more cars on the new platform.
