Rivian today announced a slew of configuration updates for its R1T electric pickup truck and R1S electric SUV, accompanied by price hikes of up to 25% for both. Much to the chagrin of reservation holders, the price increases also apply to existing pre-orders and add-ons.
Introducing our new Dual-Motor AWD configuration and our 260+ mile Standard battery pack, available today for preorder. https://t.co/B7GXzex3nL
— Rivian (@Rivian) March 1, 2022
Reservation holders have received emails from Rivian informing them of the changes, with many reporting hikes of $12,000-20,000 USD (or more) in the total cost of their pre-orders.
“These price increases — the result of inflationary pressure on the cost of supplier components and raw materials across the world — will allow us to maintain product excellence as we continue investing in electrification for our shared future,” Rivian explained in the email.
Rivian customers put down $1,000 as a deposit towards the cost of their electric vehicle (EV) when they place a pre-order. The move has sent reservation holders in a tailspin.
“Wtf! My car went from 81k to 101k!” /u/Accomplished_Cat1706 said in a since-locked Reddit thread where dozens of reservation holders stated they either had already cancelled or were imminently going to cancel their pre-orders.
Rivian started delivering its EVs in October of last year after the first production units rolled off the assembly line in September.
Jacking up prices for reservation holders is not a good look for the company, especially since competitors like Tesla leave existing orders unaffected when prices increase.
Last week, Rivian said it is aiming for a 10% share of the EV market by 2030. Turning opinion among customers who had already put their weight behind Rivian could prove to be an impediment to the electric automaker’s ambitions.
The updates Rivian announced today for the R1T and R1S include (via Reddit):
R1T Updates
Options for DUAL and QUAD motors. Quad is now +$6k (dual is cheaper)
You can only get the Max pack with the Quad motor
You can now choose the “Standard” (smallest) battery which is 260+
Large pack is now $6k extra
Max pack is now $16k extra
The kitchen went from $5k to $6750
The offroad upgrade is gone… you get the tow hooks included and the underbody shield is $2k (which was what the upgrade originally was)
Full-sized spare went from $800 to $900
Tonneau cover is now optional, with powered ($3k)and manual ($1800) options; it’s also selectable as an upgrade for the Explore package
I believe there are other price increases, but I’m forgetting how much things were before
Wall charger went from $500 to $750
Cargo Crossbars increase $450 to $500
Ocean Coast interior now $2k extra
Lots of paint color increases (ex: El Cap $1500 to $2500)
R1S Updates
All packages will only be offered in the 7-seat config
