Rivan Backtracks On Price Hike In Face Of Customer Outrage

Electric startup Rivian has backtracked on planned price rises in the wake of customer outrage.

Earlier this week the EV firm announced that prices for its electric truck and SUV would increase by a massive 20 percent, taking the price of the R1T pickup from $67,500 to $79,500, and inflating the cost of the R1S SUV from $70,000 to $84,500. The company put the move down to increased production costs.

But Rivian’s CEO released a statement today confirming that customers who had already placed an order before March 1 would still be able to buy at the original price, and anyone who had cancelled an order in response to the new price could reinstate it.

This is a developing story and will be updated soon.

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