Rivian plans to increase prices for its R1 models in Canada by up to $10,000 CAD ($7,000 USD) starting February 25, citing shifts in exchange rates between the U.S. and Canadian dollars, according to an email sent to customers.
“On February 25, 2025, we’re updating R1 pricing due to changes in the exchange rates between the US and Canada. Prices are increasing from $7,000 to $10,000 CAD, depending on the configuration,” Rivian representative Mikhael Farah said.
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The price hike comes as the Canadian dollar has weakened against the U.S. dollar, falling from 0.75 USD last year to around 0.70 USD currently. Rivian’s R1 vehicles are already priced at over $100,000 CAD in Canada, making the upcoming increase a further challenge for prospective buyers.
The development also coincides with growing trade tensions between the U.S. and Canada. President Donald Trump recently announced a 25% tariff on imported Canadian steel and aluminum, raising concerns over escalating costs in the North American auto sector. Additionally, the administration has floated the possibility of a 100% tariff on Canadian-made vehicles, which could lead to retaliatory measures from Canada. Ford Motor CEO Jim Farley has warned that such tariffs could “blow a hole” in the industry.
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Rivian has not yet provided a breakdown of how the price adjustments will apply across trim levels. However, with the increase set to take effect on February 25, Canadian customers may look to finalize purchases before the change takes effect.