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Rivian Says Its 400-Mile Models Will Cost Less Than $90,000

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The company is targeting GMC Yukon Denali and fully-loaded Ford F-150.

Rivian took the world by storm with the reveal of its upcoming R1T all-electric pickup truck, which is set to arrive in late 2020. The R1T will be followed up with an all-electric SUV called the R1S in 2021. Both models will shake up the EV segment with a 300-400 mile driving range (enough to make Tesla blush). Rivian has even received a $700 million investment from Amazon, so you know the company means business.

Speaking to Green Tech Media, Rivian CEO R.J. Scaringe talked about pricing for these upcoming EVs. Don't expect a Rivian vehicle to be cheap because the brand is targeting luxury buyers.

Rivian has already announced starting prices of $69,000 for the R1T truck and $72,500 for the R1S SUV, although these prices won't be representative of the 400-mile range models. GTM asked whether he thought the price could be a major hurdle for the company.

"I think [the price] may seem high, but we have to take the context of really two things. First, we've strategically positioned ourselves to go after the aspirational side of this market. It's really important to make that note; we're not trying to compete with a $25,000 or $30,000 truck or SUV. This is a very high-performance [vehicle] and very technically advanced in terms of self-driving, in terms of connectivity architecture, in terms of battery size. The segment is going after the people who are spending $70,000 or $80,000 on a GMC Denali, Chevy Suburban, Land Rover Discovery, or a fully-loaded Ford F150," Scaringe explained.

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We find it interesting to hear Scaringe leave vehicles like the Tesla Model X, Audi e-Tron, and Jaguar I-Pace off his list of competitors. GTM also asked if Rivian has already set pricing for the 400-mile range models. "We haven't yet," Scaringe said. "But we will have a version of the big-range vehicle that's sub-$90,000." For reference, a Tesla Model X P100D starts at $138,000 and only delivers a range of 289 miles. If Rivian is successful in offering an electric pickup truck and SUV with over 400 miles of range for under $90,000, it could reshape the EV market.