Rivian will reveal the R2 on March 7. The company confirmed Monday in a post on X (Twitter) that customers should “prepare to meet R2 on March 7.” Rivian CEO RJ Scaringe previously said the next-generation platform would be smaller and cheaper than the R1 line.
The automaker has not yet said where the event will take place, but it will likely be in Laguna Beach, CA. Last month, its city council publicly posted an approved request in its minutes for a “Rivian R2 Launch,” part of a “global product launch event at the Rivian Theater” on the same date. If that wasn’t enough of a clue, Rivian’s X trailer included audio of crashing waves, beachgoers playing, and squawking seagulls.
Rivian representatives are reportedly planning to hold the event at the Rivian South Coast Theater in Laguna Beach. The automaker bought the theater (which opened in 1937 and closed in 2015) in 2021 before renovating and reopening it last December. The company asked the council for permission to display six vehicles on a grassy public area near the theater, which sounds ideal for a hands-on media area after a formal indoor presentation.
The R2 platform is expected to start with a smaller SUV (reportedly the size of a Jeep Grand Cherokee) priced between $40,000 and $60,000. R1 platform vehicles cost around $80,000, although some models are available for lease, making them eligible for a full $7,500 tax credit.
When Scaringe held a Q&A on Instagram last year, he said the vehicle’s expected delivery date had moved from 2025 to 2026. So unless Rivian’s plans have changed dramatically since then, expect the event March precedes a long waiting list period before you can take one home. . Rivian has not yet begun construction on an upcoming factory in Georgia that will produce the R2 line.
Rivian loses about $31,000 for every R1 platform vehicle it makes, as the electric vehicle maker positions its brand for an all-electric future. The R2 is expected to be more efficient (with more affordable prices) as the automaker attempts to pivot toward profitability. The company’s CEO said in late 2023 that he was talking to a “pipeline” of commercial customers for his electric vans after his four-year exclusivity deal with Amazon ended. However, he still plans to fulfill his contract with Amazon, which provides for the delivery of 100,000 vans to the online retailer by 2030.