Rivian price hike hits pre-orders, angering existing customers

Rivian has confirmed that the worth hikes introduced Tuesday will apply to present builds in addition to new ones, forcing prospects who had already positioned orders to decide on between shelling out as a lot as 20% extra for his or her vans or opting right into a lower-spec configuration, eliciting vocal discontent amongst early adopters.

“Like most producers, Rivian is being confronted with inflationary stress, growing element prices, and unprecedented provide chain shortages and delays for components (together with semiconductor chips),” Jiten Behl, Rivian’s chief progress officer, mentioned in an announcement. “This rise in price and complexity as a result of these difficult circumstances necessitate a rise to the costs of the R1T and R1S fashions we provide at present — costs which have been initially set in 2018.”

Based on Inexperienced Automobile Storiesthe changes will apply to all prospects besides those that are within the ultimate steps of the transaction — or “marked for success.”

Rivian, wherein Amazon.com holds a 20% stake, mentioned the beginning value of its R1T electrical pickup vans has gone up by about 17% and its R1S sport utility automobiles by about 20%. It mentioned the worth will increase would have an effect on many of the prospects who’ve already positioned pre-orders for the automobiles.

Whereas the announcement included particulars of recent tools choices being added to the configurator, together with a brand new dual-motor possibility, Rivian additionally hiked the worth for the prevailing quad-motor setup by $12,000. Current reservation holders can decide into this dual-motor Discover package deal, with Commonplace battery pack, which begins at $67,500. The Commonplace pack gives simply 260 miles per cost; Rivian didn’t disclose its exact capability.

The twin-motor setup gives greater than 600 horsepower and 600 pound-feet of torque, with a 0-to-60 time of about 4 seconds — so it is nonetheless a really fast truck. And it is nonetheless all-wheel drive, with a motor positioned on every axle back and front, however clearly it will not have among the at-the-wheels quad motors’ capabilities and get together methods, just like the flashy tank flip.

Tesla and legacy automotive makers have additionally raised US automobile costs to offset excessive prices associated to logistics and provide chain disruption, and sellers usually mark-up costs due to automobile shortages.

This text comprises reporting by Reuters.

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