Rivian R1T: What's Going on With Rivian's New Pricing Plan?
Electric truck startup Rivian has made some bold claims about its upcoming battery-powered pickup and SUV. In addition to impressive range and power figures, the company has dropped hints about the pricing strategy for the R1T electric pickup truck and R1S three-row SUV.
We recently reported on a Los Angeles-based electric car company, Canoo which plans on introducing its first-ever EV by 2021. The Canoo EVs will not go on sale in a traditional sense, instead they'll be offered as part of a subscription-only ownership program. Now Rivian says it might offer a subscription model, however it's pricing plan will likely be more similar to the one offered by Volvo.
The insight into the subscription model was offered by the company's CEO, RJ Scaringe. However the company has not officially confirmed or released any additional details about the subscription plan.
During a meeting with investor Cox Automotive, Scaringe mentioned that the company is planning a subscription service option following the launch of Rivian's current model portfolio.
Scaringe has also mentioned in the past that Rivian will prioritize after-sales service, which will also bode well for the company's future subscription service.
There is a possibility that under this subscription plan customers might be allowed to switch between vehicles, as long as they agree to meet some prerequisite conditions.
The base model of Rivian R1T will be priced around $70,000, whereas the R1S e-SUV is expected to cost around $73,000. Based on these pricing estimates, any monthly subscription costs offered by Rivian will to fall in the $1200-$1300 range.
The company has also revealed a new color scheme for the electric pickup truck. The baby blue color scheme that R1T was showcased in looks uncannily similar to Ford's "Performance Blue" shade which is not surprising considering Ford is also an investor in the company.
Earlier this year we did a quick comparison between Rivian R1T and Ford F150.
Pre-orders for the Rivian R1T and R1S SUV are already open and customers can place their orders by putting down a refundable deposit of $1,000.
Both the Rivian R1S and R1T can be ordered in three states. Buyers can choose between an entry-level 400 horsepower model, 750hp mid-range model and a 700hp long-range model. The two trucks will share a state-of-the-art traction control and quad-motor all-wheel-drive system.
Plymouth, Michigan-based Rivian is one of the most promising electric truck startups since Tesla. The company was valued at about $3.5 billion before Amazon announced last month that it will purchase 100,000 Rivian electric delivery vans to add to its fleet, according to the Wall Street Journal.
Amazon will take delivery of the first Rivian vans next year. It plans to have 10,000 of the trucks on the road by 2022. It expects to have all in service by 2023.
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