Rivian announced that it developed a new pack architecture using Lithium-Iron-Phosphate (LFP) cells in its latest Shareholders Report.
Rivian is expanding its cell and pack technology by including high-nickel and LFP cells. The company believes that including more battery chemistries would expand its available supply while reducing costs.
The Illinois-based EV manufacturer plans to use the LFP cells in its Standard battery packs and the Rivian Commercial Van (RCV) — otherwise known as the all-electric Amazon delivery van. Rivian believes commercial customers will see similar daily range capabilities with LFP chemistry while providing significant cost savings for the company.
“Along with that, our standard battery pack is leveraging LFP and LFP chemistry, and that chemistry not only allows us to offer that pack at a lower cost, but it really fits commercial applications well. And it’s first going to be launched in the commercial vehicle platform later this year, and then will make its way into our consumer vehicles by late 2023,” said Rivian CEO RJ Scaringe during the Rivian Q4 and Full Year 2021 earnings call.
As for Rivian’s consumer vehicles, like the R1T and R1S, LFP-based Standard battery packs are expected to provide a range of over 260 miles. Rivian believes that the LFP Standard battery pack will offer consumers a more affordable entry price.
“Now as we develop these new offerings, we need to make sure that these offerings could fit into our product portfolio. And to do that, we revisited the overall pricing strategy. Prior to the pricing changes, our R1 platform had a price range without options of $67,500 to $83,500 and only included quad-motor variants. With the addition of these new product offerings, the R1 platform’s price range is now $67,500 to $95,000, including both quad and dual-motor configurations as well as the standard range LFP battery pack,” Scaringe said.