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Rivian Plans Subscriptions for Its EVs
Michigan-based Rivian Automotive LLC says it will offer customers a subscription option to buying the electric trucks and SUVs it plans to begin making next year at its factory in Normal, Ill.
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Michigan-based Rivian Automotive LLC says it will offer customers a subscription option to buying the electric trucks and SUVs it plans to begin making next year at its factory in Normal, Ill.
Rivian expects to launch its R1T pickup and R1S crossover vehicle in late 2020. The company intends to market its vehicles, expected to retail for roughly $70,000, direct from the factory, as Tesla Inc. does, rather than work through conventional dealerships.
Founder R.J. Scaringe tells attendees at a meeting arranged through Atlanta-based Cox Automotive Inc., which is investing $350 million in Rivian, that a subscription scheme will fit well with the company’s plan to sell its vehicle directly to customers rather than through a traditional dealer network. He also says Rivian will partner with others to run the “back end” of the system, although he provides no details.
Earlier this month Rivian landed a contract with Amazon.com to supply the online retailer with 100,000 electric delivery vans, beginning in 2021. Amazon led a $700 million funding round in Rivian early this year.
Last April Ford Motor Co. agreed to invest $500 million in Rivian and is partnering with the startup on an all-electric, Ford-badged truck. The project is independent of Ford’s plan to introduce a Mustang-inspired crossover and electric version of its F-150 fullsize pickup truck.
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