Tesla's Shadow Looms: Rivian Discounts US, Canada Inventory To Stay Competitive
Portfolio Pulse from Anan Ashraf
Rivian Automotive (NASDAQ:RIVN) is reducing prices on its 2023 and 2024 R1T and R1S models in the US and Canada to stay competitive in the EV market. The discounts target optional upgrades like the drive system and battery pack. This move follows Rivian's opening of its R1 Shop in Canada and reflects the ongoing EV price war driven by Tesla's pricing strategies.
May 27, 2024 | 6:36 am
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Rivian is reducing prices on its 2023 and 2024 R1T and R1S models in the US and Canada to stay competitive in the EV market. The discounts target optional upgrades like the drive system and battery pack. This move is part of Rivian's strategy to adapt to the ongoing EV price war driven by Tesla.
The price reductions on Rivian's R1T and R1S models are likely to attract more customers and boost sales, especially as the discounts target significant upgrades. This move is a direct response to the competitive pressure from Tesla, indicating Rivian's proactive approach to maintaining its market position.
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