Rivian has altered the deal, and now its EVs will cost buyers up to $20K more

Rivian has altered the deal, and now its EVs will cost buyers up to $20K more

Trending 8 months ago 179

Rivian accrued the estimated prices of its R1T electrical pickup and R1S electrical SUV this week by up to 20 percent, arsenic reported by TechCrunch. The institution is applying the caller estimates to caller orders and changing them for preservation holders who don’t yet person a conveyance entering production.

This is the archetypal important alteration successful pricing Rivian has revealed since orders opened, and portion lawsuit preorders each stated “prices are taxable to alteration arsenic they get person to production,” it seems similar nary 1 was acceptable for a alteration this big. Prospective EV buyers are utilized to fluctuations successful the pricing of cars from Tesla, but successful that case, prices are usually locked successful from the clip they enactment successful their orders.

The quality of the terms summation came bundled with Rivian’s announcement of the quality to preorder a dual-motor configuration of some the R1T and R1S, on with a smaller “standard” artillery battalion enactment rated for 260 miles of range.

There are terms hikes that sting, determination are terms hikes that are offensive, and past determination are terms hikes that verge connected sociopathic. My R1T going from $74,950 up to $92,700 overnight is the latter.

— Bradley Kent (@bradley_kent) March 1, 2022

The quad-motor configuration of the R1T with 314 miles of scope utilized to commencement astatine $67,500, but present that terms constituent volition lone get you a dual-motor and modular artillery battalion configuration — which won’t beryllium disposable until 2024. The quad-motor configurations present commencement astatine $79,500 for the R1T and $84,500 for the R1S (originally $70,000).

In a connection from Jiten Behl, Rivian’s main maturation officer, the terms hike was attributed to planetary spot shortages and proviso concatenation issues:

“Like astir manufacturers, Rivian is being confronted with inflationary pressure, expanding constituent costs, and unprecedented proviso concatenation shortages and delays for parts (including semiconductor chips). This emergence successful outgo and complexity owed to these challenging circumstances necessitate an summation to the prices of the R1T and R1S models we connection contiguous — prices which were primitively acceptable successful 2018. This determination volition let america to proceed to connection competitory products that support the precocious modular of quality, show and capabilities that our customers expect and merit from Rivian. Along with the adjusted prices for our existent offerings, we are besides announcing Dual-Motor AWD and Standard artillery battalion options for R1T and R1S, which volition supply a broader scope of choices for customers arsenic portion of our expanding portfolio of options, upgrades and accessories.”

People who preordered the motortruck are not blessed astir the terms increases. Many customers person taken to Reddit to stock they canceled oregon program to cancel their orders. Rivian’s tweet connected the caller dual-motor configuration announcement has astir 400 replies, including galore customers sharing disappointment of the $12,000 to $20,000 terms summation to their existing preorders.

YIKES!!! @Rivian with different plaything and a miss. They present privation implicit $100,000 for the motortruck I reserved astatine $85,000 a fewer months agone (and not honoring locked-in prices arsenic Tesla does). Honestly, this is cancellation worthy. An other $15K is INSANE. pic.twitter.com/TEXXz4VMRM

— Quinn Nelson (@SnazzyQ) March 1, 2022

Price of my @Rivian Truck conscionable went up $10k. As a time 1 preorder holder this feels suuuuper bait and switchy. Not a fan.

The code of my video would person changed if I had known it was a $100,000 dollar truck. Extra zeros matter.

— JerryRigEverything (@ZacksJerryRig) March 2, 2022

Even YouTubers Zack Nelson of Jerry Rig Everything and Quinn Nelson of Snazzy Labs took to Twitter connected the subject. Both were aboriginal fans and preservation holders of Rivian’s R1T truck, but present they are speaking retired astir feeling similar they experienced a bait and switch. Quinn wrote connected Twitter that 5 months ago, radical astatine Rivian told him they were assured connected the pricing of the cars. “Stuff hasn’t changed that overmuch successful 5 months—certainly not 20 percent. They lied to me, customers, and investors,” wrote Quinn.

style="display:block" data-ad-client="ca-pub-6050020371266145" data-ad-slot="7414032534" data-ad-format="auto" data-full-width-responsive="true">