Rivian Expands Battery Options as Launch of Next-Generation EVs Nears

With the launch of its next-generation electric cars fast approaching, Rivian Automotive Inc. (NASDAQ: RIVN) is expanding its battery options for the Rivian R1T and R1S and cutting entry prices for both models. Rivian Automotive Inc. is an electric vehicle manufacturer and automotive technology and outdoor recreation company.

Rivian’s Standard pack will feature a 106-kilowatt-hour, lithium-ion battery pack and can pair with the dual motor powertrain with an estimated 270-mile range. Opting for the Standard pack would lower R1T entry prices to $69,900 and save customers $9,100.

In comparison, the previous base R1T option cost $79,000 and featured the Large pack with around 352 miles of range on a single charge.

Thanks to the Standard battery pack, R1S prices have also dropped by $9,100 to $74,900. The Standard+ pack will feature a 1210kWh lithium-ion battery with 315 miles of estimated range and compatibility with both Dual Motor Performance and Dual Motor powertrains.

For the R1T electric truck, the Standard dual motor will come with a 106 kWh battery and 270 miles of range, all going for $69,900.

The Standard+ Dual Motor AWD will feature a 121 kWh battery with 315 miles of range a $73,000 while the Standard+ Performance Dual-Motor AWD will also feature a 121 kWh battery and 315 miles of range at $78,000.

Rivian’s R1S brand will be more costly with the Standard Dual Motor AWD coming with a 106 kWh and 270 miles of estimated range at $74,000.

The Standard Dual Motor AWD will feature a 121 kWh battery and 315 miles of range and will retail at $78,000 while the Standard + performance Dual Motor AWD will feature similar specs to the Standard Dual Motor AWD trim but at $83,000.

If at least five versions of the two new Rivian EVs cost less than $80,000, Rivian customers could gain access to a $3,750 federal tax incentive.

High electric vehicle prices have been the bane of the EV industry for the past decade, hindering mass EV adoption and limiting electric vehicle ownership to a small group of wealthy individuals.

Cutting its entry-level prices could help Rivian attract cost-conscious customers and access the wider market. Rivian also released a statement that it was developing lithium-iron-phosphate batteries for both the R1S and R1T to help lower prices even further.

The tradeoff for LFP packs is that while they are cheaper and have greater longevity, they are generally heavier and have less energy density compared to traditional lithium-ion battery packs.

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