Rivian CEO Apologizes, Walks Back Preorder Price Hikes After Customer Backlash

cartechboy writes: Rivian's CEO, RJ Scaringe, admitted the company messed up. In a lengthy apology, the executive said the company broke people's trust. Rivian's walking back the large, in some cases 20%, price increases introduced earlier in the week for any preorder holder prior to March 1. [However, the price increases stay in effect for anyone who ordered after March 1.] "We wrongly decided to make these changes apply to all future deliveries, including pre-existing configured preorders," Scaringe said, noting that the company "failed to to appreciate" how customers viewed their configurations and pricing. Scaringe also acknowledged the company "wrongly assumed" the newly announced dual-motor models and standard battery pack would provide satisfactory price points similar to the original configurations.

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