Rivian on Tuesday raised the price of its four-wheel-drive truck by $12,000, dashing hopes for an expected low-cost model, blaming supply issues and parts costs.
So far, the base price for the R1T electric pickup is $68,575 and the base price for the R1S electric SUV is $73,575 (both including $1,075 shipping). Excluding those dual-motor models that arrive later, the base price for both models rises to $80,575 and $85,575, respectively.
The R1S is up nearly 20 percent, a repositioned offering that currently costs more than the BMW iX and Audi E-Tron — both of which carry luxury badges.
2022 Rivian R1T
Rivian’s move to the big price hike: According to Rivian, a dissatisfied dual-motor version with a smaller standard package was introduced, offering “260-plus miles.” Pricing for these mowers is essentially the same as the quad-motor, larger-pack (314 or 316-mile) variants, although the delivery date has been pushed back to 2024.
In a statement, the company explained that the recalibration is a matter of soaring supply chain and component costs.
“Like most manufacturers, Rivian faces inflationary pressures, rising component costs, and unprecedented supply chain shortages and delays in components, including semiconductor chips,” said Jiten Behl, Rivian’s chief growth officer. The rising cost and complexity of a sexual environment has necessitated higher prices for the R1T and R1S models we offer today – prices that were originally set in 2018.”
Behl added that the price increase “will allow us to continue to offer competitive products that maintain the high standards of quality, performance and capability that our customers have come to expect and deserve from Rivian.”
Carbon Awareness Camp at Canvas with Rivian Waypoint Charger – Moab
Price adjustments will apply to all clients except those who are in the final step of translation or marked as complete.
Rivian told customers ordering the 400-mile Max Pack in December to wait another year for deliveries until 2023. Notably, the price premium for the Max pack model is still $10,000 more than the Large pack. Plus, at least for now, some production versions have disappeared from the configurator — like the five-seater version of the R1S.
In a subsequent email to customers, CEO RJ Scaringe said the big pack will be prioritized for building Adventure Pack versions in 2022.
So far, the company hasn’t provided more details about the dual-motor model. Although it revealed several pictures of the components of the propulsion system in these models.
Rivian R1T Dual Motor AWD Chassis
Rivian Dual Motor Assembly
Rivian Dual Motor Assembly
Rivian announced in January that it produced 1,015 vehicles and delivered 920 in 2021. The company last updated bookings on December 15, when it had about 71,000 units.
The company builds three trucks — the R1T, R1S, and EDV delivery vans — at its Normal, Illinois plant. In December, it announced a second manufacturing facility in Georgia.
Construction of the Georgia plant will begin in summer 2022, with the goal of starting production in 2024. Once capacity is increased, it will be able to produce as many as 400,000 vehicles per year, while the Illinois plant can produce about 150,000 vehicles per year.