According to Rivian’s recently filed Form S-1 before its initial public offering (IPO), the automaker will charge $10,000 for its vehicles’ fully autonomous capability.
The Driver+ system from the electric startup comprises 11 cameras, 12 ultrasonic sensors, five radars, and a high-precision GPS antenna. Its $10,000 price tag is identical to that of rival Tesla’s Full Self Driving system.
The document also reveals that a subscription will be available for $5,500 over ten years. Membership fees for infotainment and other connectivity-based services are expected to be included in this subscription. It is also said to contain free access to the Rivian charging network, unlimited LTE connectivity, and off-roadside assistance if you ever need help while in a remote area.
As reported earlier, research and development expenses make up the bulk of Rivian’s losses, with the company spending $766 million on R&D in 2020 and $683 million in the first half of 2021 alone. Fortunately, Rivian has raised more than $10 billion from private investors and had approximately $3.7 billion in cash and cash equivalents on hand as of June 30, 2021, in addition to a little more than 48,000 reservations for the R1T and R1S.