Tesla Rival Rivian Delays Launch Of R1T Electric Pickups By A Month

Amazon.com Inc (NASDAQ: AMZN) and Ford Motor Co (NYSE: F)-backed electric vehicle startup Rivian said on Thursday deliveries of its first electric pickup truck R1T have been pushed back by a month to July.

What Happened: The electric vehicle maker updated its website to let customers know the deliveries for the Launch Edition will begin in July and be completed in Spring 2022.

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The California-based startup, which is valued at $27.6 billion, and is reportedly preparing to go public in September, has previously confirmed that the R1T Launch Edition is going to start at $75,000 while the base version will be launched in 2022 and start at $67,500.

See Also: Ford Raises 5-Year EV Investment Target To $30B After High-Flying F-150 Lightning Launch: All You Need To Know

The initial version will come with 300 miles of range, but a longer range, 400 mile-plus battery pack for the R1T is slated to become available in January 2022.

Why It Matters: EV startups and legacy automakers are competing to bring their electric pickup trucks to the market, amid a shift in demand.

Ford Motor Co (NYSE: F) revealed the electric version of its best-selling F-150 pickup truck last week that will go into production next year. Tesla Inc’s (NASDAQ: TSLA) Cybertruck is expected to go into production later this year.

Lordstown Motor Corp’s (NASDAQ: RIDE) announced earlier this week that it had trimmed production plans for its electric pickup and highlighted the need for more cash.

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See Also: Tesla Confirms Cybertruck Production Will Start In Late 2021

Photo by Richard Truesdell on Wikimedia