On March 1, Rivian introduced some modifications to its R1T and R1S fashions efficient in 2024. Amongst them have been new dual-motor setups and smaller battery choices, however what actually captured consideration was a not-insignificant worth enhance for quad-motor fashions. That is as a result of the rise utilized to present reservation holders who thought they’d a worth locked in.
Apparently, that triggered one thing of a stir within the Rivian world. Rivian CEO RJ Scaringe issued a letter on March 3 reversing course on the worth enhance for reservation holders. Within the letter, he cites rising prices of supplies as the explanation for the rise however admits the implementation of the rise and the reasoning behind it might have been dealt with higher.
“As we labored to replace pricing to mirror these value will increase, we wrongly determined to make these modifications apply to all future deliveries, together with pre-existing configured preorders. We failed to understand the way you seen your configuration as worth locked, and we wrongly assumed the introduced Twin-Motor and Customary battery pack would offer configurations that might ship worth factors much like your unique configuration. Whereas this was the logic, it was unsuitable and we broke your belief in Rivian.”
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The twin-motor variations with smaller batteries have been introduced with beginning costs of $67,500 for the R1T, and $70,000 for the R1S – similar to the previous MSRP for the quad-motor fashions. Now, Rivian will cost $78,975 for a quad-motor R1T and $84,000 for the R1S. These will increase fall between 17 and 20 p.c, so it is not arduous to grasp why reservation holders might need been indignant. Moreover, anybody opting to change their reservation to the dual-motor mannequin would’ve had one other yr to attend earlier than supply. Add all of it up, and it turns into a PR nightmare for a corporation nonetheless attempting to construct a popularity.
Presumably, the worth debacle led to some reservation holders exiting the scene. Within the letter, Scaringe pledges to not solely honor unique pricing for present reservation holders, however to reinstate reservations on the unique worth for individuals who canceled a preorder on or after March 1.
The twin-motor Rivian fashions with smaller batteries, whereas not as punchy because the quad-motor choices, aren’t lackluster by any means. Vary is alleged to be round 260 miles versus 314, and 0-60 efficiency is round 4 seconds flat.