Rivian Automotive Inc. (Nasdaq: RIVN) this year will open a retail center at the former South Coast Cinemas in Laguna Beach.
The Irvine-based EV maker will showcase its two vehicles, the R1T pickup truck and the R1S SUV, in its renovation of the historic theater. The site, called “Spaces”, will include a showroom area, a coffee bar and a screening room, according to a 2020 proposal.
Rivian’s first Spaces opened two years ago in Venice Beach. The company this month opened another retail site in New York’s Meatpacking District.
Today in midday trading, shares in Rivian fell 3.6% to $13.63 apiece and a $13 billion market cap.