Why the R2 could be Rivian's key to profitability

Rivian's share price has plunged about 85% since going public in 2021. Now, the EV maker is betting its future on a new vehicle: Rivian R2, a $45,000 midsize SUV. Founder and CEO, RJ Scaringe, gives CNBC’s Robert Ferris an exclusive look at the new, more affordable electric vehicle, hoping to turn the company around and compete with the likes of Tesla.