- Rivian R1T

Rivian says its EV truck and SUV will cost less than we thought

5d ago

42.1K

The Californian startup Rivian made waves through the industry when it unveiled the R1T electric truck. It had staggering range and performance figures to match. That was going to cost $69,000 before federal tax credit, which was highly competitive with Teslas of similar performance, then its only rival. Not long after, the company unveiled an SUV to ride on the same platform, called the R1S. It had the same amazing range and performance figures. That was set to start at $72,000.

Rivian R1S

Rivian R1S

Following massive investment from Amazon and Ford, having $3.6 billion in total, the company says they're in position to lower prices down from those previously-announced numbers. The extent of the drops has not been mentioned. A "really positive" reception from buyers also helps, as founder and chief executive RJ Scaringe told Reuters the company has seen.

Rivian R1S & R1T

Rivian R1S & R1T

Although that's exciting for Rivian, it now faces "the challenge of a lot of pre-order customers aren’t going to get the cars as fast as they like because there’s such a long queue," said Scaringe. Prospective buyers have to put down a refundable deposit of $1000 to reserve the vehicle. Deliveries for the trucks are set to begin at the end of the year, and the SUV is set to follow closely behind.

Rivian Manufacturing Facility in Normal, Illinois

Rivian Manufacturing Facility in Normal, Illinois

Those targets should be hit, as the company has purchased a former Mitsubishi plant in Normal, Illinois, to help hit volume targets and production timelines. Rivian will also have the infrastructure ready to support those vehicles. The company says they will roll out Rivian-specific charging stations at key locations, including national parks, but the vehicles will be compatible on most charging networks available today.

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