Rivian reservation holders are in for some bad news as the price of the R1T and R1S have increased dramatically and they won’t be spared from the jump.
According to Rivian’s updated configurator, the R1T’s price has skyrocketed from $67,500 to $79,500. The R1S has seen an even more dramatic hike as the crossover now begins at $84,500 instead of $70,000.
The bad news doesn’t end there as the price of the Max battery has increased from $10,000 to $16,000. It’s only listed as being available on the R1T and is slated to increase the truck’s range from 314 miles (505 km) to more than 400 miles (644 km).
Also Read: Rivian Delivers Its First Two R1S Electric SUVs To Its CEO And CFO
Those are huge increases and ones that are making customers furious. However, the company’s Chief Growth Officer said “like most manufacturers, Rivian is being confronted with inflationary pressure, increasing component costs, and unprecedented supply chain shortages and delays for parts.” Jiten Behl added, “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.”
While Rivian only has themselves to blame for setting prices years before launch, the company announced more affordable dual-motor variants will arrive in 2024 to slot beneath the quad-motor models that are currently available.
The entry-level R1T Explore Dual-Motor starts at $67,500 and features a Standard battery that is slated to deliver a range in excess of 260 miles (418 km). Customers will also be able to upgrade to a $6,000 Large battery, which increases the range to more than 320 miles (515 km).
Likewise, the entry-level R1T Explore Dual-Motor will begin at $72,500 and have more than 260 miles (418 km) of range from its Standard battery. Just like the truck, the Large battery is a $6,000 option and is slated to increase the range to more than 320 miles (515 km).
InsideEVs is reporting the dual-motor variants will have a combined output in excess of 600 hp (447 kW / 608 PS) and 600 lb-ft (813 Nm) of torque. They went on to quote Rivian as saying this will enable the dual-motor R1T to accelerate from 0-60 mph (0-96 km/h) in four seconds as well as retain the 11,000 lbs (4,990 kg) towing capacity.
The situation is clearly a mess and Rivian customers vented on Reddit with one saying, “I can’t stomach going from $76[k] to $95[k] for the exact same build. NOPE.” Another said they were “super pissed” about the price increases, while others noted feeling “completely cheated.”
