Rivian focused on long-term goals after heavy Q4 losses

Company executives said the electric vehicle maker will continue to make big investments while rolling out a long-term business plan. For example, new versions of the R1T and R1S are now available to order, although some of the newly added configurations won’t be available until 2024.

While the launch versions of the R1T and R1S only came with quad motors and the automaker’s large battery, Rivian is now taking orders on dual-motor versions with both larger and larger battery options. smaller. This creates a wider range of starting prices, Rivian said, from $67,500 to $95,000.

The smaller standard battery uses lithium-iron phosphate chemistry, which is different from traditional EV batteries that primarily use nickel. Tesla is also moving towards so-called LFP batteries to save on costs, as nickel was already becoming more expensive before the recent spike in commodity prices.

“With our portfolio of three different batteries and two different drive configurations, we have a very good mix of options for customers,” Scaringe said. “When you step back and look at the product at the new price points, it’s very competitively priced.”

Scaringe also said Rivian is developing a proprietary 800-volt battery architecture, which has advantages over the current 400-volt system. And the company plans to build engines in-house in the near future, rather than relying on outside suppliers.

Scaringe said Rivian is also looking to build its own batteries in the future.

Michael J. Chiaramonte