Rivian just raised prices for its quad-motor trucks by $12,000 dashing hopes of anticipated lower-cost models, blaming supply issues, chip shortages and component costs.
Until now, the base price has been $68,575 for the R1T electric pickup and $73,575 for the R1S electric SUV (both including $1,075 delivery fee). Not including dual-motor models that the base price of the two models reaches $80,575 and $85,575
- 20% up for the R1S, and R1T respectively
Rivian’s diversion for the the price hikes: The introduction of dual-motor versions with a smaller Standard pack, offering “260+ miles,”
*according to Rivian official tweet account
Introducing our new Dual-Motor AWD configuration and our 260+ mile Standard battery pack, available today for preorder. https://t.co/B7GXzex3nL
— Rivian (@Rivian) March 1, 2022
The company explained in a statement that the re-calibration is a matter of the supply chain and soaring component costs.
“Like most manufacturers, statements adds;
Rivian is being confronted with inflationary pressure, increasing component costs, and unprecedented supply chain shortages and delays for parts (including semiconductor chips,” said Rivian chief growth officer Jiten Behl.
These, in a way, to balance the massive price hike and cost essentially the same as the quad-motor, Large pack (314- or 316-mile) variants, albeit with delivery dates pushed out to 2024. Techcrunch finds
“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”
The price adjustments will apply to all customers except those who are in the final steps of the transaction or are effectively “marked for fulfillment.”