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Alongside the price hike, Rivian announced new dual-motor variants and a Standard battery pack to bring the base price back to where it was.
Rivian
When Rivian announced that it would be significantly raising the prices of its R1S electric SUV and R1T electric pickup, including for customers who had preordered and not yet received the vehicles, the burgeoning automaker was beset on all sides by unhappy clientele and investors. Even though the company eventually reversed the price hike for existing reservation holders, there’s some disapproval with how the situation unfolded.Charles Larry Crews, Jr., a Rivian shareholder, is the named party in a lawsuit filed against Rivian on Monday, . The complaint, which was filed in the US District Court in San Francisco, claims that Rivian’s post-IPO price hike “would tarnish Rivian’s reputation as a trustworthy and transparent company and would put a significant number of the existing backlog of 55,400 preorders along with future preorders in jeopardy of cancellation,” according to a statement from Block & Levinton LLP, the law firm istanbul firm that filed the suit on Crews’ behalf.
