Rivian Reveals Pricing and Details for Electric Pickup and SUV

Rivian, one of several new names looking to carve out a piece of the growing EV market, reveals pricing and other details of its electric pickup truck and SUV.
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Rivian, one of several new names looking to take on Tesla  (TSLA) - Get Report and carve out a piece of the growing market for all-electric vehicles, has revealed pricing and other details of its highly anticipated all-electric pickup truck and SUV.

Rivian announced that its electric R1T pickup truck and R1S SUV will be initially priced at $75,000 and $77,500, respectively. Both models will come with a 300-mile driving range.

Pre-order holders will get early access on Nov. 16 to configure their vehicle color, battery range as well as wheels and tires, Rivian said. U.S. deliveries for the R1T will start in June 2021, while R1S deliveries will begin in August.

Backed by Amazon.com  (AMZN) - Get Report and Ford  (F) - Get Report, Rivian is the latest electric vehicle maker to step forward with plans to bring a new brand of EV to the mass-consumer market.

Electric car company Fisker  (FSR) - Get Report made its public debut last month in a so-called SPAC reverse merger that net it more than $1 billion in cash. Fisker has been collecting $250 deposits on its to-be-built Ocean SUV. It has roughly 9,000 paid deposits to date.

Electric vehicle maker Nikola  (NKLA) - Get Report, meanwhile, has seen its share price plummet amid allegations of fraud, the stepping down of CEO Trevor Milton and concerns over the execution and timing of its touted all-electric transport hauler.

Nikola on Tuesday disclosed in a regulatory filing that the company and Milton received grand jury subpoenas from the U.S. Attorney's Office for the Southern District of New York and the New York County District Attorney's office in September.

Despite the allegations, Nikola said it was still in discussions regarding a joint venture with General Motors  (GM) - Get Report that would give GM an equity stake in return for certain services, including engineering and building the Nikola Badger.