Life comes at you pretty fast. Or, in Rivian’s case, that’s what it felt like for a bunch of vehicle owners staring down five-figure price hikes without warning.
Two days after Rivian announced that it was adding new variants to the lineup and raising the price of existing models, on Wednesday the company announced a change in its price-hike policy. According to an email sent to Rivian reservation holders, CEO RJ Scaringe apologized for the abruptness of the initial policy change and promised that people with preorders as of March 1 will be able to buy their vehicles at their earlier price points. Furthermore, anyone who canceled a preorder on or after March 1 will be able to have it reinstated with its original configuration, pricing and delivery estimate.
“As we worked to update pricing to reflect these cost increases, we wrongly decided to make these changes apply to all future deliveries, including pre-existing configured preorders,” Scaringe wrote in the email to reservation holders. “We failed to appreciate how you viewed your configuration as price locked, and we wrongly assumed the announced Dual-Motor and Standard battery pack would provide configurations that would deliver price points similar to your original configuration. While this was the logic, it was wrong and we broke your trust in Rivian.”
2022 Rivian R1T Launch Edition rides clean, gets dirty
1/74 SLIDES © Provided by Roadshow Rivian’s R1T is the first fully electric light-duty truck to begin customer deliveries. 2/74 SLIDES © Provided by Roadshow The pickup is powered by a quad-motor electric powertrain totaling over 800 horsepower and 900 pound-feet of torque. 3/74 SLIDES © Provided by Roadshow The minimalist design features thick horizontal light bars at either end and pill-shaped headlamps up front. 4/74 SLIDES © Provided by Roadshow The wide-eyed fascia gives the pickup an approachable, cartoonish aesthetic. 5/74 SLIDES © Provided by Roadshow Plugging in the electric pickup at a 200-kW DC charging station rapidly adds up to 140 miles of range in about 20 minutes. 6/74 SLIDES © Provided by Roadshow With a full charge and rolling on the standard 20-inch wheels, the EPA estimates the R1T’s cruising ranges at 314 miles. Opting for all-terrain 20-inch or sport 22-inch rolling stock can reduce that range by as much as 15%. 7/74 SLIDES © Provided by Roadshow The electric platform frees room for unique storage spaces like the front trunk and the pass-through Gear Tunnel tucked between the rear doors and the bed. 8/74 SLIDES © Provided by Roadshow The R1T will be followed by the R1S, an electric SUV built on the same underpinnings and tech. 9/74 SLIDES © Provided by Roadshow The Launch Edition is sold out, but shoppers can reserve an R1T Explore or Adventure spec with a $1,000 deposit. 10/74 SLIDES © Provided by Roadshow Pricing starts at $67,500 for the base Explore model or $73,000 for the Adventure trim with more creature comforts. 11/74 SLIDES © Provided by Roadshow We’ve got almost too many pics of the R1T, so keep scrolling to see more. Or check out our first drive review for more details and impressions. 12/74 SLIDES © Provided by Roadshow 13/74 SLIDES © Provided by Roadshow 14/74 SLIDES © Provided by Roadshow 15/74 SLIDES © Provided by Roadshow 16/74 SLIDES © Provided by Roadshow 17/74 SLIDES © Provided by Roadshow 18/74 SLIDES © Provided by Roadshow 19/74 SLIDES © Provided by Roadshow 20/74 SLIDES © Provided by Roadshow 21/74 SLIDES © Provided by Roadshow 22/74 SLIDES © Provided by Roadshow 23/74 SLIDES © Provided by Roadshow 24/74 SLIDES © Provided by Roadshow 25/74 SLIDES © Provided by Roadshow 26/74 SLIDES © Provided by Roadshow 27/74 SLIDES © Provided by Roadshow 28/74 SLIDES © Provided by Roadshow 29/74 SLIDES © Provided by Roadshow 30/74 SLIDES © Provided by Roadshow 31/74 SLIDES © Provided by Roadshow 32/74 SLIDES © Provided by Roadshow 33/74 SLIDES © Provided by Roadshow 34/74 SLIDES © Provided by Roadshow 35/74 SLIDES © Provided by Roadshow 36/74 SLIDES © Provided by Roadshow 37/74 SLIDES © Provided by Roadshow 38/74 SLIDES © Provided by Roadshow 39/74 SLIDES © Provided by Roadshow 40/74 SLIDES © Provided by Roadshow 41/74 SLIDES © Provided by Roadshow 42/74 SLIDES © Provided by Roadshow 43/74 SLIDES © Provided by Roadshow 44/74 SLIDES © Provided by Roadshow 45/74 SLIDES © Provided by Roadshow 46/74 SLIDES © Provided by Roadshow 47/74 SLIDES © Provided by Roadshow 48/74 SLIDES © Provided by Roadshow 49/74 SLIDES © Provided by Roadshow 50/74 SLIDES © Provided by Roadshow 51/74 SLIDES © Provided by Roadshow 52/74 SLIDES © Provided by Roadshow 53/74 SLIDES © Provided by Roadshow 54/74 SLIDES © Provided by Roadshow 55/74 SLIDES © Provided by Roadshow 56/74 SLIDES © Provided by Roadshow 57/74 SLIDES © Provided by Roadshow 58/74 SLIDES © Provided by Roadshow 59/74 SLIDES © Provided by Roadshow 60/74 SLIDES © Provided by Roadshow 61/74 SLIDES © Provided by Roadshow 62/74 SLIDES © Provided by Roadshow 63/74 SLIDES © Provided by Roadshow 64/74 SLIDES © Provided by Roadshow 65/74 SLIDES © Provided by Roadshow 66/74 SLIDES © Provided by Roadshow 67/74 SLIDES © Provided by Roadshow 68/74 SLIDES © Provided by Roadshow 69/74 SLIDES © Provided by Roadshow 70/74 SLIDES © Provided by Roadshow 71/74 SLIDES © Provided by Roadshow 72/74 SLIDES © Provided by Roadshow 73/74 SLIDES © Provided by Roadshow 74/74 SLIDES © Provided by Roadshow
Rivian had made the cost increase announcement on Monday, which seemed to come out of left field. The quad-motor R1T pickup and R1S SUV were given $12,000 price hikes, taking their window stickers to $80,575 and $85,575, respectively.
To provide a similar price point to before the hike, Rivian announced a new dual-motor setup developed in-house, along with a smaller Standard battery pack that should provide about 260 miles of range for dual-motor variants. The Large pack is a $6,000 upgrade, boosting dual-motor range to 320 miles, while the R1T-only Max upgrade asks $16,000 and aims for a range north of 400 miles. Styling and features for these new variants appears the same.
In Wednesday’s email, Scaringe said: “Regarding our updated pricing for future preorders, the introduction of our Dual-Motor configuration and Standard battery pack has been designed to enable us to maintain lower starting prices while adjusting the pricing of the Quad-Motor and larger battery packs to reflect rising costs.”
Rivian has some big plans for its burgeoning business. While ramp-up is still ongoing, the automaker wants to continue to vertically integrate, eventually designing and building its own battery cells. Its Illinois manufacturing facility has the capability to build up to 200,000 vehicles a year, while a forthcoming plant in Georgia will add another 400,000 EVs per year into the mix.
This was originally published on Roadshow.
Keyword: Rivian Hits Reverse on Price Hikes for Existing Reservation Holders