Rivian: Not Quite As Expensive As First Thought

Despite offering a choice of battery sizes, Rivian’s R1T pickup, scheduled for production late this year, was not revealed under a banner of affordable green motoring. Nor was the R1S SUV that followed it. The Michigan-based startup’s first vehicles instead wowed onlookers with their tech prowess and capability — four hub motors, an innovative platform, and a maximum range of 400 miles — and prices that were fairly comparable with existing high-zoot pickups and SUVs.

Carrying a starting price of $69,000 at its debut, the R1T is now said to be in line for a price drop. Same goes for the R1S.

According to Reuters, Rivian CEO RJ Scaringe said during at appearance in San Francisco over the weekend that the cost for both models will be less than previously stated when official pricing lands.

Three flavors of R1T and R1S are on offer, the most basic of which is said to travel 230 miles between charges. Not bad for large vehicles boasting considerable power. Of course, fueling those motors are three very large battery packs hidden in the vehicles’ “skateboard” platform. Those batteries range in size from 105 kWh, 135 kWh, to 180 kWh. The middle of the three is expected to return 300 miles per charge.

While Scaringe wouldn’t say by just how much buyers can expect prices to drop, he did say there’s been no shortage of would-be owners willing to drop $1,000 for a reservation. He expressed regret that the number of pre-orders means a long wait for some. Those looking for an entry-level model already knew the wait was long, as Rivian made a point of saying higher-end units would come off its Normal, Illinois assembly line first. The 230-mile R1T won’t see the light of day until a year after the 180 kWh model starts (which will be followed soon after by the 135 kWh model).

Any change to the price of the R1T ($69,000 to start) and R1S ($72,000 for a base) must take into account the $7,500 federal tax credit awaiting all buyers. R1S production is said to come shortly after R1T assembly kicks off.

Backing up Rivian’s efforts to challenge the Detroit Three in the light truck EV game is nearly $3 billion in funding secured in 2019, with the largest chunks coming from the likes of Amazon and Ford. Rivian and Ford plan to jointly develop a new utility vehicle together using the startup’s skateboard platform.

[Images: Rivian]