Rivian increases vehicle selling prices by 20%

Rivian Automotive has announced a 20% increase in the selling prices of its R1T electric pickup truck and R1S electric SUV. While the company initially said the price increases would affect most customers who had preordered the vehicles, the automaker later announced that vehicles ordered before March 1, 2002, would not be subject to the new pricing.

“Like most manufacturers, Rivian is being confronted with inflationary pressure, increasing component costs, and unprecedented supply chain shortages and delays for parts (including semiconductor chips),” said Jiten Behl, chief growth officer.