Rivian R1T And R1T Models Get 20% Price Increase

Mar. 02, 2022 7:04 AM ET byNikesh Kooverjee Electric Vehicles /8 Comments

To soften the blow, it will be adding a more affordable configuration to the range.

TheRivian R1Sand R1T have been taking some time to hit the road. The fully electric SUV and truck have been shown to the consumers in a series ofpromotional videosand business updates while early production models have beendelivered to the heads of the company. So far, it has beena slow start for the companythat says it wants to achieve a 10% market share by 2030.

We weregiven an update from the CEOjust a few days ago who said that production was being ramped up but the semiconductor shortage was weighing heavy on its progress. A total of 1,015 vehicles were assembled last year at itsAtlanta, Georgia production plant, just shy of its goal of 1,200 units.

Rivian

With demand still fairly high for its products, Rivian has now announced that it will be making some changes to its range. Unfortunately, this will also include a substantial price increase. For 2024, both model lines will get a dual-motor option positioned as entry-level offerings next to the existing quad-motor models.

As detailed in an emailed statement, the dual-motor R1T and R1S pricing will start at $67,500 and $70,000 MSRP, respectively. Those familiar with the pricing of the products will notice that these are the prices for the existing quad-motor range.

The flagship offerings will instead be sold for $78,975 for the R1T and 84,000 for the R1S. That's a whopping 20% increase!

Rivian

As detailed in an emailed statement to customers waiting for their orders to be fulfilled, Rivian says, "Vehicle base pricing and the cost of certain options, upgrades and accessories have increased. All packages of the R1S will now only be offered in a seven-seat configuration." It's understood that those with existing reservations will now have to pay the increase if they want their car to be delivered.

Those who have finalized payment with Rivian will not have to fork out any more cash. If you don't want to pay the increased value, your R1T or R1S will now feature the new in-house developed dual motor with a 260-mile EPA-estimated range. Your waiting time will also be extended to about one or two years with deliveries scheduled for 2024.

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Rivian

如果你缩小到双包,两个upsized battery options will be available above the standard fitment. A Large Pack will give an estimated range of more than 320 miles and the Max Pack will offer more than 400 miles. Where performance is concerned, the new dual-motor products will still be more than capable with a claimed power output of over 600 horsepower and 600 lb-ft of torque. Both cars will accelerate from 0-60 mph in 4.0 seconds.

Key features include front-to-rear torque control with the bias of the power set to be delivered to the rear axle. The big question of course is why does the inclusion of this new motor and battery result in such a massive price increase? Jiten Behl, Rivian's Chief Growth Officer has issued a statement explaining the decision.

Rivian

He explains, "Like most manufacturers, Rivian is being confronted with inflationary pressure, increasing component costs, and unprecedented supply chain shortages and delays for parts (including semiconductor chips). This rise in cost and complexity due to these challenging circumstances necessitate an increase to the prices of the R1T and R1S models we offer today - prices which were originally set in 2018. This decision will allow us to continue to offer competitive products that maintain the high standard of quality, performance and capabilities that our customers expect and deserve from Rivian.

"Along with the adjusted prices for our current offerings, we are also announcing Dual-Motor AWD and Standard battery pack options for R1T and R1S, which will provide a broader range of choices for customers as part of our expanding portfolio of options, upgrades and accessories."