Rivian has today revealed three big developments in the R1T and R1S lines in terms of pricing and products.
The first change is the new in-house manufactured dual-motor options. These will be available in 2024 for both the R1T and R1S. The prices are said to be the same as what Rivian has been telling reservation holders, R1T with the dual-motor option will be starting at $67,500 and the R1S will start $70,000, excluding delivery fees.
Don’t get too used to these prices though as Rivian have also announced a price increase of almost 17% for the R1T taking it to $78,975 and roughly 20% for the R1S bringing it to $84,000. These are without any upgrades.
What might shock reservation holders the most is that this price increase is not only being applied to future reservations but current ones too. The only customers escaping this are those who are in the very final steps of the transaction.
There will be three battery pack options for the dual-motor, including the standard pack providing 260 miles, the large pack with 320 miles and the max pack at 400 miles.
The range of the dual-motor large pack is greater than the quad-motor R1T, Rivian has put this down to the vehicle being lighter and the in-house motors are more efficient.
Not only will it be lighter, but it will have in excess of 600 hp with a 0-60 mph time of 4 seconds. The quad motor is said to achieve 0-60 mph in 3 seconds and it is reported that the towing capacity will be the same on both at 11,000 lbs.
There are a number of factors that Rivian are using to justify their price increase. The first being that the pricing was initially set in 2018 but then had some delays in production. This meant that there ended up being additional production casts as well as data showing that new car prices have increased by 37% since 2018.
Jiten Behl, Rivian’s Chief Growth Officer, explained:
‘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.”
Not only having to wait an extra year or two but having to accept a vehicle with a smaller battery pack with a dial motor or pay an extra 17-20%, it will be very interesting to see how current customers react to this news.
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