Customers, VIP guests, and media gathered at the stunning Rivian South Coast Theater in Laguna Beach on Thursday, with the restless waves of the Pacific Ocean just a stone’s throw away. Amidst the buzzing atmosphere, a mix of optimism and exhilaration spread throughout the arena. The highly anticipated event was the grand unveiling of the Rivian R2, a smaller and more accessible all-electric SUV that signifies a crucial step for the up-and-coming EV champion in proving its lasting presence in the world.
Early supporters of Rivian, as well as Scaringe’s close friends and family, eagerly took their seats in the renovated theater. Excited chatter filled the air as conversations revolved around their beloved Rivian vehicles, peppered with exclamations and congratulations. Hugs and handshakes were exchanged, and hopes for the R2 were fervently discussed.
But when the moment finally arrived for the R2 to make its grand entrance – it was not alone. Scaringe had not one, but two “one more thing” surprises up his sleeve. He unveiled two additional electric vehicles under the R3 platform, showcasing the company’s next generation of innovation. Along with updates on production and hints at upcoming accessories, Scaringe truly left the audience dazzled.
“The R2, a two-row all-electric SUV, boasts an impressive range of 300 miles and a base price of only $45,000,” Scaringe proudly announced, making it the star of the show.
Following its big debut, the R2 is now available for reservation, with the option of several powertrain versions – including single, dual, and tri-motor options. However, the most thunderous applause came when Scaringe revealed that production for the R2 is to be expedited to the first half of 2026. This was accompanied by the noteworthy announcement that the R2 would be initially manufactured at the automaker’s Normal, Illinois factory – a change from the original plan to build the R2 at a brand new $5 billion plant in Atlanta, Georgia (which is currently under construction).
As of now, Rivian’s sole factory in Normal, Illinois produces four vehicles – the R1T truck and R1S SUV for consumers, and two versions of their commercial van.
Scaringe warmly referred to the R1S and R1T as the company’s “handshake to the world”. But the R2 and R3, that set the crowd abuzz and rumbling with excitement, make it clear that Rivian intends to extend a full embrace. Beaming under the spotlight on stage, as the R3 made its striking appearance, Scaringe was determined to convey one message – Rivian has arrived.
However, it will still be another two years before the R2 officially goes into production. By then, the EV market will have evolved, with more options and competitors arising – many of which fall into the same affordable category as the R2. But Scaringe and his team have fully embraced the R2’s unique style and accessories – having already left an indelible mark with the R1S and R1T.
“The R2 will not just be an affordable option, catering to a broader customer base, but a reflection of manufacturing maturity,” Scaringe emphasized. “Efficient and profitable production of the R2 will be a major milestone for Rivian.”
Currently, Rivian operates at a loss on every R1S and R1T produced – with a deficit of $43,372 per unit delivered in the fourth quarter of 2023, as reported by regulatory filings. Therefore, it is crucial for Rivian to find cost-effective measures and negotiate better deals with suppliers, in order to achieve its ultimate goal of making a profit on each vehicle sold.
