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Rivian planning a price drop on the electric R1T truck and R1S SUV, report says

Word 'round the campfire is that Rivian's new EVs will start at less than the previously announced $70,000 range.

These futuristic-looking electric off-roaders could be getting a price drop before they launch.

So, the hype for Rivian's R1T electric truck and its R1S SUV sibling is palpable. These vehicles promise a ton of performance in a not-totally-insane-looking package for a reasonable amount of cash -- they were supposed to start around $70,000, and that last bit might be changing.

Changing for the better, to be more specific. See, according to a Reuters report Monday, Rivian will be unveiling official pricing for its vehicles soon, and the company says to expect them to come in lower than previously stated.

How much lower? We don't know, but the R1T didn't seem like that bad a deal at $70,000, so anything less is just icing on the cake as far as we're concerned. We'd bet that the entry-level model with the smallest range will enter the market somewhere in the mid-to-high $50,000 range, but that's just an educated guess.

Just in case you need a little Rivian refresher, the company was founded in 2009, has secured over $3.5 billion in funding and plans on offering its vehicles with ranges that go from 230 miles on the low end to around 400 miles on the high end. It's been taking $1,000 preorders on the R1T and R1S for a while now, but the company so far has kept the number of preorders it's received to itself.

Rivian didn't immediately respond to Roadshow's request for comment.

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