Rivian raises R1T and R1S prices for new and old bookings

Rivian has increased the estimated prices of its electric pickup R1T and electric SUV R1S this week by up to 20 percent, as reported TechCrunch. The company applies the new ratings to the new orders and changes them for reservation holders who do not yet have a car in production.

This is the first significant change in pricing that Rivian has revealed since the opening of orders, and while customers place pre-orders, all stated “prices are subject to change as they approach production”, no one seems ready for such a big change . Potential buyers of electric cars are accustomed to fluctuations in the prices of Tesla cars, but in this case the prices are usually locked from the moment they place their orders.

The news of the price increase came with Rivian’s announcement of the possibility of pre-ordering a dual-engine configuration for both the R1T and R1S, along with a smaller “standard” battery pack valued at 260 miles.

The R1T’s four-engine configuration with 314 miles started at $ 67,500, but now that price will only provide you with a two-engine configuration and a standard battery pack – which won’t be available until 2024. Engine configurations now start at $ 79,500 for the R1T and $ 84,500 for the R1S (initially $ 70,000).

According to Jiten Behl, Rivian’s chief growth officer, the rise in prices is due to global chip shortages and supply chain problems:

“Like most manufacturers, Rivian is facing inflationary pressures, rising component costs and an unprecedented shortage and slowdown in the parts supply chain (including semiconductor chips). This increase in costs and complexity due to these challenging circumstances necessitates an increase in the prices of the R1T and R1S models we offer today – prices that were originally set in 2018. This solution will allow us to continue to offer competitive products that maintain high standards. for the quality, productivity and capabilities that our customers expect and deserve from Rivian. Along with adjusted prices for our current offerings, we are also announcing options for twin-engine AWDs and standard batteries for the R1T and R1S, which will provide customers with a wider choice as part of our expanding portfolio of options, upgrades and accessories. ”

People who have ordered the truck are not happy with the price increase. Many customers have gone to Reddit to share that they have canceled or are planning to cancel their orders. Rivian’s tweet The announcement of the new two-engine configuration has nearly 400 responses, including many customers sharing the disappointment of the price increase from $ 12,000 to $ 20,000 compared to their existing pre-orders.

Even YouTubers Zack Nelson Jerry Rigg Everything and Quinn Nelson from Snazzy Labs turned to Twitter on the subject. Both were early fans and bookkeepers of Rivian’s R1T truck, but now they’re talking about feeling like they’ve been lured and shifted. Quinn wrote on Twitter that five months ago, Rivian people told him they were confident in car prices. “Things haven’t changed that much in five months – certainly not 20 percent. “They lied to me, clients and investors,” Quinn wrote.