On March 1, Rivian announced some changes to its R1T and R1S models effective in 2024. Among them were new dual-motor setups and smaller battery options, but what really captured attention was a not-insignificant price increase for quad-motor models. That's because the increase applied to existing reservation holders who thought they had a price locked in.
Apparently, that caused something of a stir in the Rivian world. Rivian CEO RJ Scaringe issued a letter on March 3 reversing course on the price increase for reservation holders. In the letter, he cites rising costs of materials as the reason for the increase but admits the implementation of the increase and the reasoning behind it could have been handled better.
