Rivian backtracks on reservation holders' price increases after outcry

This week, Rivian announced it would be introducing entry-level two-motor pickup trucks, and that it would be raising the prices of its quad-motor trucks substantially. The old base-model quad-motor model jumped by $12,000. It's not unusual for automakers to increase prices over time, but what really riled people was the fact that customers who pre-ordered a truck based on initial pricing were suddenly going to be paying significantly more for their trucks, as the hike applied to them, too. Confronted with their anger, Rivian has now changed course.

The company sent out a letter from company CEO R.J. Scaringe explaining the thinking behind the pricing decision, which was done as a result of increasing costs. But it also noted that the price increase on reservation holders was a mistake and Rivian would change that. Anyone with a reservation prior to March 1 will still be able to order their truck with the original pricing. And, if someone with a preexisting reservation canceled it because of the price hike, Rivian will be able to retrieve that reservation and still honor the original price, assuming the buyer is still interested.

Of course, if you're looking to place a fresh order for a Rivian, you'll still be subject to the new pricing. The dual-motor R1T pickup with the smaller battery pack starts at $67,500, and the base quad-motor model, with a larger battery, starts at $79,500. The base dual-motor R1S SUV starts at $72,500, and the larger-battery quad-motor model starts at $84,500.

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