Rivian Automotive, Inc. RIVN has whipped its audience into a frenzy with a cryptic glimpse of its upcoming, budget-friendly electric-vehicle platform, R2. Scheduled for a global reveal next month, the short video was shared on Thursday, setting the stage for a thrilling debut. The company’s strategic drip of information has left investors salivating for more.
What Happened: The tantalizing clip, spanning just under 30 seconds, is a visual ode to adventure, posing the question “What’s adventure?” and beckoning viewers to join Rivian on an electrifying escapade. It is a symphony of nature, people, and animals, underscoring the enigmatic promise of “electric adventure” that Rivian aims to deliver.
The clip reaches a crescendo with a heartwarming moment as a woman and a young girl strolling hand-in-hand toward a vehicle, with only the headlights illuminating the R2 insignia and the launch date. The veil of mystery is yet to be lifted, leaving the audience yearning for the grand revelation in March.
The unveiling event, slated for March 7 at 1 p.m. ET, will be broadcasted live, and enthusiasts will have the opportunity to make reservations during the event for a nominal $100, refundable deposit.
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Why It’s Important: Rivian, the visionary behind the R1S SUV, R1T pickup truck, and delivery van, has been dropping hints about the next-gen vehicle for quite some time. During the third-quarter earnings call in early November, CEO R.J. Scaringe drew attention to the significant progress in R2 platform development, underscoring plans for future production facilities in Georgia. The R2 is poised to preserve the brand’s DNA while presenting a more compact design at a lower price point, addressing a void in the midsize SUV segment.
The launch date was first disclosed in late January and has now been officially 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 ascended by 1.41% to $16.58, according to Benzinga Pro data.
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Photo courtesy: Rivian
