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Rivian is dropping probably the most reasonably priced variations of its R1S electrical SUV and R1T electrical pickup truck, successfully elevating the bottom costs of each automobiles by as much as $6,000.
Within the e-mail to preorder holders—obtained by Inexperienced Automobile Experiences from Rivian—the EV maker mentioned it was cancelling the bottom Discover Bundle that began at $68,575 for the R1T and $73,575 for the R1S (each together with a $1,075 vacation spot payment). That applies to present reservation holders in addition to new orders.
2023 Rivian R1S
In response to Rivian, clients can both cancel their orders, or change to the Journey Bundle, which begins at $74,075 for the R1T and $79,075 for the R1S with vacation spot. Those who go together with the Journey Bundle pays an elevated worth decided by once they initially positioned their order, whereas those who cancel will get a refund on their deposit.
Moreover, those that ordered the Ocean Coast inside are being requested if they’re going to settle for an replace substituting in dark-stained wooden. Rivian will probably be introducing a brand new model of the bundle later within the yr, additionally including a wrapped vegan leather-based instrument panel.
Rivian R1S with revised Ocean Coast inside
Rivian R1S with revised Ocean Coast inside
Rivian R1S with revised Ocean Coast inside
The modifications apply to each the R1T and R1S. Clients have till September 1 to reconfigure their pre-orders or cancel them.
Within the e-mail, Rivian mentioned it was cancelling the Discover Bundle as a result of low demand, including that this can assist pace up deliveries.
“So far, solely a small proportion of consumers have chosen this configuration, with the overwhelming majority deciding on the Journey trim,” the e-mail mentioned. “By specializing in the Journey trim bundle, we’re in a position to streamline our provide chain and in the end ship automobiles extra shortly.”
A Rivian spokesperson said that it is not breaking down what that proportion was.
2022 Rivian R1T
Rivian did nevertheless affirm to GCR that the revamped EV tax credit score enacted this week didn’t play a task within the determination.
This is not the primary time Rivian has stunned preorder holders with a worth enhance. The corporate earlier this yr raised costs throughout the board by up to $12,000 however, after a backlash from clients, it restored the unique pricing to those that already had a reservation.
The worth enhance, which does nonetheless apply to new clients, didn’t slow the pace of reservations the corporate is getting. That is partly because the trucks are just so good, with spectacular off-road functionality and on-road driving dynamics.
Rivian laid off 6% of its staff final month and reported a web lack of $1.7 billion for the second quarter of 2022, however nonetheless plans to develop manufacturing. It is as a result of open a second factory in Georgia in 2024, the place a second R2 mannequin line may even be constructed.
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With further reporting by Bengt Halvorson