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Benzinga
Benzinga
Business
Rachit Vats

Rivian Missed 2021 Production Targets And Is Now Reportedly Bumping Up Prices: Here's Why

Rivian Automotive Inc (NASDAQ:RIVN) is raising the starting prices of its two electric vehicles currently on sale by up to 20% due to inflationary pressure and higher component costs, Reuters reported on Tuesday, citing a company executive. 

What Happened: Irvine, California-based Rivian is hiking the price of its R1T electric pickup by 17% and its R1S electric sports utility vehicle by 20%.

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