Update: Rivian Announces $12,000 Rivian Price Hikes, But It Will Not Apply To Existing Order Holders After Outcry

Rivian's CEO extended an olive branch to existing order holders, saying their original prices would be honored

2022 2023 rivian r1t r1s price hike

Rivian R1T Launch Edition and R1S reservation and order holders received a message yesterday announcing a significant price hike on their upcoming electric pickup truck and SUVs orders. Here we have a message from one of the order holders – Benjamin. We have a RivianOwnerForum.com poll to get an idea of whether order holders will follow through on their purchase or leave. Rivian drops more news about upcoming 2024 Rivian vehicles with a 2-motor AWD system (versus a 4-motor setup in the current models). Here are the details.

Rivian published the following to the Rivian User Portal site. The message informs the pre-order holder about the price increase and explains the reason as “inflationary pressure on the cost of supplier components and raw materials across the world.”

Update 3/3/2022: Rivian CEO RJ Scaringe announced the company has reversed course on applying the price hike to current pre-order holders as of March 1. More information here (link opens new tab).

2022 rivian r1t r1s price hike

Here is the message that Benjamin sent to us. Benjamin writes:

“The user portal updated and the changes are pretty significant including some interesting 2-motor options as well. My R1T Launch Edition price jumped from $86,625 to $102,220! I was somewhat expecting something like this as the R1T has (HAD) effectively become a bargain truck compared to the market. Nonetheless, I am perturbed that it is now a reality.”

“I am still planning on purchasing as I believe the R1T to be the best option for my lifestyle/use/size needs, etc. However, I’ve dropped the camp kitchen and tent option to get the pricing to $92,870, and I may end up dropping the heavy-duty skid plates to reduce it by another $2,000. We will do without the kitchen and the top-side tent can be purchased from any number of companies at a later date.”

Here are the original price, new price, and new modified truck order pricing that Benjamin sent us.

You can see the base R1T Launch Edition price went from $73,000 to $85,000. This includes the 4-motor drivetrain and the large battery pack (approximately 135 kWh).

RivianOwnersForum.com published this poll. At the time of this writing, 226 people responded to the poll and 67.7% of people said that they plan to walk away from their orders.

rivian price hike poll

Rivian stock price (RIVN) took a significant downturn today (March 2, 2022). The stock price went down approximately -12.85% to $53.96 during the middle of the day. During the same time, GM stock price is up +3.03% and Ford stock price is up +6.41%.

Rivian also announced that a 2-motor version of their electric vehicles will be available in 2024. The 2-motor system is said to offer AWD (all-wheel-drive) capability and a 4.0-second 0-60 MPH acceleration time. This is not much slower than their current 4-motor system with a claimed acceleration time of 3.0-second 0-60 MPH. Also, a smaller standard battery pack is said to go on sale in 2024 with a driving range of 260+ miles, according to Rivian. The current large pack Rivian R1T is EPA-rated at 314 miles of range.

Here is the new Rivian R1T towing an 8,100 lbs trailer on the Ike Gauntlet™ – the world’s toughest towing test.