FILE PHOTO: The company logo is seen on a Rivian R1T pickup, the Amazon-backed electric vehicle (EV) maker, as it is parked outside the Nasdaq Market site during the company’s IPO in Times Square in New York City, U.S., November 10, 2021. REUTERS/Brendan McDermid/
(Reuters) - Rivian Automotive Inc has rolled back price hikes on electric vehicles booked before March 1 after facing backlash from customers following a 20% increase in prices.
Preorders as of March 1 will not be subject to the new prices, and customers who canceled orders can reinstate them with the original price, Chief Executive Officer RJ Scaringe said in a letter to clients on Thursday.
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