Rivian is an automaker startup that’s focused on producing an electric SUV and truck that stands out. Rivian models will compete with other large electric vehicles (EVs) on the horizon such as the Ford F-150 Lightning and Tesla Cybertruck.
Like Tesla, the startup has similarly ambitious plans. Learn more about Rivian, their own brand of car insurance in the works, and how they’re going to differentiate themselves.
There’s going to be a lot of competition in the large electric vehicle segment | Twenty20
How is Rivian doing so far in the electric vehicle market?
You might not have heard of Rivian before. The company was founded in 2009, and based in Irvine, California. Since then they’ve attracted plenty of interest from large investors.
According to CNBC, Amazon ordered 100,000 Rivian vehicles in 2019. This will help Amazon reach their goal of having a delivery fleet that runs on 100% renewable energy by 2030. Some of these vehicles are expected to start making deliveries this year. Ford is another major investor in the EV startup.
Rivian has big plans, which includes creating their own “Adventure Network” of EV chargers by the end of 2023, according to Car and Driver. These 600 North American charging stations will be exclusively for Rivian customers. The stations will include several DC fast chargers, but Rivian will also install over 10,000 Level 2 chargers for any EV with a J1772 plug.
The Launch Edition models of the 2021 Rivian R1T and 2021 Rivian R1S are fully reserved. The R1T pickup has a starting cost of $73,000, while the R1S SUV costs $75,500. Both are expected to be delivered to customers later this year.
Those price tags may seem hefty for an electric SUV and truck, but Rivian has additional offers on the table to incentivize buyers. As reported by Car and Driver, the company is offering a 175,000-mile warranty for the vehicle batteries and electric engine components. Rivian employees will get a $1,000-per-month incentive for about 24 months if they buy the R1S or R1T.
Those who decide to invest in a Rivian vehicle might be able to save on car insurance. The company plans to offer their own brand of insurance with rewards for using the vehicle’s safety features, but it’ll only be available in 40 states. The full details are still not entirely clear, but Car and Driver says that Rivian will be working with other companies like Nationwide.
Rivian will offer its own comprehensive insurance, and you’ll be able to get discounts on your monthlypremium if you use the vehicle’s Driver+ Active Driving Assistance. This technology will help you steer and adjust your speed on the highway.
How to save costs on a new electric car
Last week, we shared warranty details.
Comprehensive: 5 yrs or 60,000 miles Drivetrain: 8 yrs or 175,000 miles Battery Pack: 8 yrs or 175,000 miles Corrosion: 8 yrs with unlimited miles
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