Rivian Automotive, Inc. (NASDAQ:RIVN) has the distinction of launching the first electric pickup truck, the R1T, ahead of Ford Motor Company’s (NYSE:F) F-150 Lightning pickup and Lordstown Motor Corp.’s (NASDAQ) Endurance. :RIDE).
On Wednesday night, the Irvine, California-based electric car company shared another feat involving the R1T.
Rivian’s 2023 R1T quad-motor vehicle with large-pack battery and 21-inch wheels now has an estimated range, per Environmental Protection Agency standards, of 328 miles, the company said in a tweet. The range of an electric car is the distance traveled between two charges.
The 2023 22-inch R1T model has a range of 303 miles and the 20-inch variant has a relatively lower range of 289 miles, according to information available on the EPA website.
This R1T model is now the highest-range truck on the market, Rivian said.
The company also said there is scope for a further increase in range, helped by software updates that can improve the car’s efficiency.
You can also read: Where do electric car batteries go when they run out?
R1T vs. rival offers
By comparison, Ford’s base version, the F-150 Lightning Pro, has an EPA range of 240 miles for the 2023 model year. Range on the F-150 Lightning XLT is 240 miles for the standard model and 320 miles for the extended range model. Lordstown’s 2023 Endurance has a range of 193 miles.
Tesla, Inc.’s (NASDAQ:TSLA) Cybertruck, which has been in the works for a long time and is scheduled to launch in 2023, advertises on the electric car maker’s website with a range of up to 500 miles for the version three-engine and four-wheel drive. The single-engine RWD and twin-engine RWD variants will likely travel upwards of 250 and 300 miles, per charge.
The price movement
Rivian closed Wednesday’s trading session down 1.73% at $21.03, according to data from Benzinga Pro.