Um, no…!
Rivian looks to expand the brand with its more affordable R2 electric SUV. Ahead of the R2’s official debut, Rivian’s...
electrek.co
In a
new interview with
Forbes, Scaringe explained Rivian's ambitions of going mass market. "The average transaction price of a vehicle, any vehicle in the United States, is around $48,000."
Scaringe explained, "We think that's a really important sweet spot, to be in that range, to create a viable option for customers that are coming out of combustion-powered vehicles."
Being competitive on cost is becoming increasingly essential as price cuts from leaders like Tesla are pressuring others to follow suit. Earlier today,
Ford announcedit was cutting the price of the Mustang Mach-E and introducing new incentives for the Lightning electric pickup.
Rivian introduced new
Standard battery pack options for the R1T and R1S earlier this month, dropping the starting prices to $70,000 and $75,000, respectively.
According to
Cox Automotive data, the average price of an EV at the end of 2023 was $50,798. That's within $2,040 of the average gas-powered vehicle at $48,795. Tesla was even closer at an average transaction price of $50,051.