Rivian has reached out to its reservation holders to advise them of the hikes.
They are due to “inflationary pressure on the cost of supplier components.”
Some increases amount to more than $15,000.
Across the board, things are getting more expensive. For all the reasons, right or wrong, life is getting pricier by the day. In the car business, part supply issues and various shortages have caused occasionally dramatic increases and Rivian reservations holders just got bad news.
It wasn’t long ago that Rivian, an extremely promising EV startup company, was the darling of media and investors. The last few months, going back to late last year, have shown that Rivian isn’t exactly meeting expectations, but they could be partially forgiven due to the global constraints.
These same “inflationary pressures”, as stated by Rivian, are the reason why prices have jumped massively. The Rivian Subreddit is loaded with posts about the price jumps, which vary from a few hundred dollars to a staggering $16,000 for the Max Pack battery.
Many Redditors, some long-time reservations holders, have shared that their builds have shot up $15,000 to $20,000 resulting in many cancelations. With the Ford F-150 Lightning expected later this year and the Chevrolet Silverado EV planned for the 2024 model year, there are alternatives. And before long, there will be more.
Here’s an example of an email sent to a reservation holder:
“As our production continues to ramp up, we want to share new information that affects your Rivian preorder.
Vehicle base pricing and the cost of certain options, upgrades and accessories have increased. All packages of the R1S will now only be offered in a 7-seat configuration.
We’re in the process of updating your Rivian Account page to reflect these adjustments and we will send you an email notification when the update is complete. Until then, all product and pricing updates can be viewed in our configurator.
These price increases — the result of inflationary pressure on the cost of supplier components and raw materials across the world — will allow us to maintain product excellence as we continue investing in electrification for our shared future. We remain committed to offering compelling products and helping drive competition, inspiring as many drivers as possible to switch to electric vehicles.
To that end, today we’re also announcing the introduction of Rivian Dual-Motor AWD for both R1T and R1S. Dual-Motor AWD features one motor for each axle for exceptional power and control. The system is designed to excel both off-road and on-road, going from 0-60 mph in as few as 4.0 seconds while still delivering all-wheel traction. Deliveries are planned to begin in 2024. We are also introducing our 260+ mile range Standard battery pack, with deliveries planned to begin in 2024.* Dual-Motor AWD and Standard battery pack are available now in our configurator, where you can find more information on each.
We’re grateful to you for being an early supporter of Rivian and helping drive the EV movement towards an enduring and livable world. If you have any questions about your preorder, we’re here to answer them.
Thank you again for being on this journey with us.
— Team Rivian”