Rivian is pulling the cover off its latest electric vehicle today, and unless you live anywhere near Laguna Beach, California, you’ll probably be watching the livestream.
The event starts at 10AM PT/ 1PM ET. According to details that leaked from the Laguna Beach City Council, the company plans to hold the event in the park adjacent to the former South Coast Theater, now named the Rivian South Coast Theater, which serves as the company’s “first flagship retail location.”
The event will be livestreamed on YouTube (embedded above). Rivian founder and CEO RJ Scaringe will introduce the R2, a compact SUV that is expected to have broader appeal than the company’s $70,000-plus R1T truck and R1S SUV. There may be other products introduced as well.
The Rivian R2 is a two-row compact SUV with around 300 miles of range and a starting price somewhere around $47,000. It is expected to start production in 2026.
The R2 launch is a pivotal moment for the company, which has been struggling to find more customers for its current R1 lineup of vehicles. Overall, EV sales are up, but growth has slowed considerably as more customers have proven reluctant to make the switch, wary of high prices and EV charging reliability. And Rivian is finding itself in a considerable cash crunch as its costs grow beyond the pace of its revenue.
