On Thursday, Rivian Automotive, Inc. ( RIVN ) introduced the second generation of its flagship vehicles, R1S and R1T.

The Tesla, Inc. ( TSLA ) rival’s new vehicles will have advanced performance, evolved tech platform, and updated designs, with prices starting at $69,900, according to a press release.

While preserving Rivian’s iconic exterior design, the second generation prioritizes efficiency through a zonal electrical architecture.

“We continue to evolve our flagship R1 vehicles, offering quality and performance without compromise,” said RJ Scaringe, Rivian CEO and founder.

Pricing for the second generation R1S will start at $75,900 and R1T will start at $69,900. Production is based in Normal, Illinois with deliveries available immediately. 

The 1,025 horsepower Quad-Motor R1T delivers 0-60 mph in less than 2.5 seconds and a 1,198lb ft of torque when using Launch Mode.

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Rivian-built dual motors are also available. The company specified that these motors are now designed, engineered, and manufactured fully in-house.

It introduces new compute and autonomy platforms, fresh motor configurations, design elements, and trim and tire options for customers.

“Our revamped R1S and R1T push the technical boundaries further, creating our most capable products to date,” Scaringe added.

Rivian’s next-generation platform introduces a redesigned thermal system with a heat pump, improving rider temperature comfort and saving range, along with new 22-inch aero wheels and tires reducing drag, optimizing range for extended adventures.

Price Action: RIVN shares are trading higher by 2.10% to $11.69 at last check Thursday.

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