Rivian Spares Preorders From Price Hike to fix 'Painful' Mistake
Friday, March 4th, 2022
March 3 (Reuters) - Rivian Automotive Inc (RIVN.O) has rolled back price hikes on electric vehicles booked before March 1 after facing backlash from customers following a 20% increase in prices.
Preorders as of March 1 will not be subject to the new prices, and customers who canceled orders can reinstate them with the original price, Chief Executive Officer RJ Scaringe said in a letter to clients on Thursday.
Read more at Reuters.
