Rivian R1T, R1S EV Reservation Holders Hit with Big Price Hikes

Roy RitchieCar or truck and Driver

  • Rivian has declared huge cost improves for its R1S and R1T EVs that influence even latest reservation holders.
  • A letter from Rivian posted by a single buyer on the Rivian owners’ forum blames the selling price hike on source-chain woes.
  • Pricing for optional products and for battery-pack and electrical power stage decisions are all in perform for these who nonetheless want to get a single of the EVs.

    Rivian’s R1T pickup debuted last slide to rave opinions, but reservation holders (each individual of whom put down a $1000 deposit) of the promising EV pickup lately got undesirable information: The firm is jacking up prices for the quad-motor variant (the only one particular to begin with available) by $6000. And potential buyers who want that model no more time can get it with the Regular battery pack and so must enhance to the Significant battery pack for a different $6000. The rate of some optional equipment also seems to have enhanced. It really is the same story for the R1S electric SUV, which has nonetheless to go on sale.

    Customers unwilling to belly a significant value raise have a further selection: acknowledge a much less powerful truck and wait for a longer time for it. Rivian’s configurator even now exhibits an “estimated” vehicle starting off cost of $67,500 for the R1T and $72,500 for the R1S. But which is for a lessen-spec auto: new dual-motor (somewhat than quad-motor) variants. This twin-motor, all-wheel-generate powertrain will make “more than 600” horsepower and “over 600” pound-toes of torque, compared to 835 hp and 908 pound-feet for the quad-motor version. Shipping for the dual-motor designs will not get started until 2024.

    Whilst an email from Rivian to reservation holders (and posted on the Rivian House owners Forum) mentioned the selling price raises have been “the final result of inflationary force on the expense of supplier components and uncooked products across the world,” it is attainable they may have been planned from the outset. In her wrongful-dismissal lawsuit against the organization, previous Rivian vice president of profits and advertising and marketing Laura Schwab claimed that Rivian’s selling prices have been unsustainably lower. Her superiors explained that they would be raised immediately after the company’s original general public stock featuring. That IPO took spot in November.

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