Rivian focused on long-term goals after heavy Q4 losses

Business executives reported the EV maker will go on to make large investments as it rolls out a prolonged-expression enterprise system. For illustration, new variations of the R1T and R1S are now obtainable to purchase, although some of the a short while ago additional configurations will not likely be readily available until 2024.

Though the start variations of the R1T and R1S only arrived with quad motors and the automaker’s substantial battery pack, Rivian is now taking orders on dual-motor variations with battery selections that are both equally even larger and lesser. That creates a broader selection of starting up prices, Rivian reported, from $67,500 to $95,000.

The more compact, conventional battery makes use of lithium-iron phosphate chemistry, which is distinct than standard EV batteries that use largely nickel. Tesla is also transferring toward so-termed LFP batteries to preserve on value, since nickel was presently having much more high-priced ahead of the the latest soar in commodity costs.

“With our portfolio of three various battery packs and two diverse travel configurations, we have a seriously awesome blend of choices for consumers,” Scaringe reported. “When you choose a phase back and glance at the product or service at the new pricing degrees, it is very competitively priced.”

Scaringe also explained that Rivian is producing a propriety 800-volt battery architecture, which has positive aspects above the current 400-volt program. And the firm designs to develop its very own motors in-property in the in the vicinity of future, fairly than relying on outdoors suppliers.

Scaringe stated Rivian also is on the lookout to make its individual batteries in the long term.