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.

About BillionDollarClub

BillionDollarClub (“BDC”) is a specialized communications platform with a focus on the biggest and brightest companies covered by IBN. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BDC is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, BDC brings its clients unparalleled recognition and brand awareness.

BDC is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from BillionDollarClub, text “Billion” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.BillionDollarClub.com

Please see full terms of use and disclaimers on the BillionDollarClub website applicable to all content provided by BDC, wherever published or re-published: https://www.BillionDollarClub.com/Disclaimer

BillionDollarClub
Los Angeles, CA
www.BillionDollarClub.com
310.299.1717 Office
Editor@BillionDollarClub.com

BillionDollarClub is powered by IBN