EV maker Rivian takes bold bet with higher-priced vehicles amid heating competition

The Irvine, California-based startup said it was focusing on rolling out higher-priced, feature-packed models of its R1S sport-utility vehicles and R1T pickup trucks to meet customer demand in the near term, bumping up the average selling price even as it offers some lower-priced variants.

Rivian is confident of maintaining prices in the face of growing competition, he said, adding that extra-large batteries, better performance and premium features would distinguish the company from rivals. The R1S starts at $78,000, compared to just over $47,000 for Tesla's Model Y and about $97,000 for the more premium Model X.

Car Car Latest News, Car Car Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rivian stock jumps nearly 6% as EV maker narrows quarterly loss, keeps guidance intactRivian lost $1.35 billion, or $1.45 a share, in the first quarter, compared with a loss of $1.6 billion, or $1.77 a share, in the year-ago period. $RIVN rose after the EV maker reported a narrower quarterly loss and kept intact its guidance for the year:
Source: MarketWatch - 🏆 3. / 97 Read more »

Rivian stock rallies over 7% as analyst says 'worst has passed'Shares of Rivian Automotive Inc. jump as the EV maker wrestles with rising costs as its production picks up, earning some praise from Wall Street.
Source: MarketWatch - 🏆 3. / 97 Read more »

Group 1 Automotive is buying dealerships in Houston and Corpus ChristiThe Houston-based retailer is expanding its Texas business by buying two more dealerships...
Source: HoustonChron - 🏆 609. / 51 Read more »