Rivian apologizes for broken trust and axes preorder price increases that hit as much as $20K

This week, Rivian updated the price estimates for its R1T electric pickup and R1S electric SUV, informing people that , depending on the package they’d ordered. Fans who put down $1,000 to get in line for trucks years before they were built were outraged by the change, which Rivian attributed to inflationary pressure and supply chain problems.

Today, Rivian CEO RJ Scaringe , admitting that “we wrongly decided to make these changes apply to all future deliveries, including pre-existing configured preorders” and says that instead, Rivian will honor the “original configured price” for all preorders placed prior to March 1st.

We failed to appreciate how you...