Rivian May Offer Performance Pack As Software Update For Dual Motor R1 Vehicles: Report

What Happened: The Performance Pack, priced at $5,000, boosts the horsepower of dual-motor Rivian models from 533 to 665, with a remarkable 219 lb-ft torque increase, resulting in a maximum output of 829 lb-ft. This upgrade shaves off 0.8 seconds from the 0 to 60 mph sprint time, bringing it down to 3.5 seconds, and nearly one second from the quarter-mile time.

See Also: What’s Going On With Rivian’s Stock?

Why It Matters: It is unclear how much the upgrade will cost, but it could be expected to be around the same price as the package for new trucks. There may be some limitations, such as the upgrade being available only for trucks manufactured after a certain date, which may feature different hardware that makes the upgrade possible, the report noted.

Rivian reported first-quarter revenue of $1.20 billion, beating a Street consensus estimate of $1.16 billion and a loss of $1.48 per share, which missed a Street consensus estimate of a loss of $1.25 per share.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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