Startup company to launch upscale, off-road-ready R1T truck
Ford Motor Company has become the latest major company to invest in electric-vehicle startup Rivian. The $500 million investment, follows a $700 million round of investment led by Amazon. Rivian has shown two vehicles meant to open up a new market for upscale, completely electric vehicles: a first-of-its-kind all-electric pickup, the R1T, and a companion SUV, the R1S.
Starting at $67,500 (before the federal tax credit), the R1T won’t be for everyone. And to get the advertised 400-mile range, you’ll have to pay thousands more for the higher-kilowatt battery pack. But the base model, with a 300-mile range, is priced like a top-of-the-line Ford F-150 or a GMC Sierra. But unlike those models, the R1T won’t consume any gas. The highest 180 kWh battery pack can get over 400 miles on a full charge.
By the time Rivian is available, it will have competition from Ford's F-150 Lightning.
"I started Rivian to deliver products that the world didn’t already have, to redefine expectations through the application of technology and innovation,” says Rivian founder and CEO RJ Scaringe. “Starting with a clean sheet, we have spent years developing the technology to deliver the ideal vehicle."