The global electric vehicle market continues to expand at a fast pace with the industry expected to reach 26,951,318 by 2030. Major players in the market include Tesla, Ford Motor, Volkswagen AG, Toyota, Nissan, and General Motors, among others. The electric vehicle startup company Rivian is planning to launch the Rivian R1T and R1S vehicles late this year or early 2021.
Recently, Rivian founder R.J. Scaringe said that the much-awaited electric pickup truck R1T and its SUV counterpart R1S would cause lesser than initially announced. The CEO did not offer the new pricing, but he mentioned to Reuters that the 300-miles mid-range R1T with electrochromic glass roof would retail at around $69,000.
Rivian originally announced that the pickup truck's starting price is $61,500. Meanwhile, the R1S SUV with the initial starting price of $75,000 would be sold at around $72,000, according to the Rivian founder. The electric vehicle startup did not reveal the reason for the price decrease ahead of its vehicles' release.
Rivian earlier said that its first deliveries are coming in the late part of 2020. Customers who would like to place their orders can make a $1000 refundable deposit to reserve the vehicle. The company plans to manufacture the larger vehicles first, then the base model within a year of release.
While we do not have the exact numbers of those who reserved Rivian vehicles, the CEO told Reuters that the feedback has been positive. He also hinted that the challenge would be that many customers who placed their pre-orders would not be able to get their vehicles fast because of the long queue. The electric vehicle startup is entering the highly competitive electric vehicle market, and its R1T would rival the Tesla Cybertruck, Ford F-150, Lordstown Endurance, among others.
But, it appears that instead of directly competing with other rivals, Rivian is creating its own niche with its R1T. The electric pickup truck R1T would be produced at the previous Mitsubishi Motors plant located in Illinois. Rivan aims to build around 25,000 R1T in its full year of production.
However, it is installing capacity for building around 260,000 units, including the R1S SUV and the electric van for Amazon. For the uninitiated, Rivan was founded in 2009 and has attracted big names in the industry, including Ford Motors and Amazon. The electric vehicle startup would definitely reveal more information about the R1T and the R1S as it draws near its scheduled delivery.
We will keep you posted on the latest updates in the auto industry as soon as we get exciting details.
