Rivian Automotive, Inc. RIVN shared a short video clip on Thursday, teasing the global launch of its next-gen, low-cost electric-vehicle platform, codenamed R2, scheduled to be unveiled next month.
What Happened: The brief clip, which lasts for about 30 seconds, positions the R2 as one for adventure, starting with a voice asking “What’s adventure?”
It showcases various elements of nature, people, and animals, as the company said it was its “new take on electric adventure.”
The video concludes with a shot of a woman and a young girl walking toward a vehicle, hand-in-hand, with the phrase “let’s go.” The vehicle’s front is shown, illuminated only by headlights — which look similar to the R1 — with the text “R2” and the launch date.
The unveiling event, slated to begin on March 7 at 1 p.m. ET, will be livestreamed, with reservations starting during the broadcast for a $100 refundable deposit.
See Also: Best Electric Vehicle Stocks
Why It’s Important: Rivian, known for its R1S SUV, R1T pickup truck, and delivery van, has been hinting at the next-gen vehicle for some time.
During the third-quarter earnings call in early November, CEO R.J. Scaringe highlighted significant progress in R2 platform development, with plans for future production facilities in Georgia.
The R2 is expected to maintain the brand's essence while offering a more compact design and lower price point, addressing a gap in the midsize SUV market.
The launch date was initially reported in late January and has since been confirmed by the company. Rivian’s immediate focus is on its fourth-quarter earnings report, scheduled for Feb. 21 after the market closes.
In premarket trading on Friday, Rivian shares climbed 1.41% to $16.58, according to Benzinga Pro data.
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Read Next: ‘EV Winter’ Is Starting To Take A Toll On Rivian: Analyst Says 2024 Targets Are In Jeopardy
Photo courtesy: Rivian
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