Rivian Backlash Apologizes Walks Preorder Hikes

Rivian, the electric vehicle startup that has been making waves with its stylish SUVs and trucks, has recently made some announcements that have left fans scratching their heads. The company recently announced a touchless delivery system, a new return policy, and apologized for broken promises and increasing prices on preorders. In this article, we'll take a closer look at these developments and what they mean for the future of Rivian.

Rivian Adopts Touchless Deliveries and 7-Day, 1-Kilometer Return Policy

Perhaps the biggest announcement from Rivian in recent weeks is its adoption of touchless deliveries and a new return policy. With the ongoing COVID-19 pandemic, it's no surprise that Rivian is taking measures to minimize contact during vehicle delivery. According to the company, touchless delivery involves using technology and call centers to assist with orientation and vehicle setup, rather than having a team member come in person.

In addition, Rivian has implemented a new return policy that allows customers to return their vehicle within 7 days or 1,000 kilometers (whichever comes first), with no questions asked. This is a significant departure from the typical car buying experience, which often involves a long and drawn-out return process. It's clear that Rivian is trying to set itself apart from other automakers and provide customers with added peace of mind.

Rivian Apologizes for Broken Trust and Axes Preorder Price Increases

Unfortunately, not all of the recent news from Rivian has been positive. The company recently apologized to customers for "broken trust" following its decision to increase preorder prices for its R1T and R1S electric vehicles. Many customers who had preordered the vehicles expressed frustration and disappointment at the price hike, which could make the vehicles unaffordable for some.

Rivian CEO RJ Scaringe apologized for the situation in a recent email to customers, stating that the company "deeply regrets" the decision to increase prices. As a result, the company has decided to reverse the price hike and honor the originally quoted prices for preorders.

Rivian CEO Apologizes and Walks Back R1T and R1S Price Increase

Rivian CEO Scaringe didn't stop with his apology for the preordering debacle - he also walked back the price increase for the R1T and R1S models. In a tweet, Scaringe stated that the company is "committed to always being transparent and fair," and that the price increase was a "mistake."

The decision to walk back the price increase is significant, as it shows that Rivian is willing to admit when it's made a mistake and take corrective action. It's also a sign that the company is serious about building trust with its customers, which is crucial in the highly competitive electric vehicle market.

I Bought Rivian LEAPS (PUT) My First LEAPS PUT Contract - Learning

Finally, in other news related to Rivian, it seems that some investors are betting against the company. According to an article on Learning Investment with Jason Cai, the author has purchased LEAPS (PUT) contracts on Rivian in anticipation of a market correction.

This news doesn't necessarily reflect poorly on Rivian, as it's not uncommon for investors to make bets in either direction on a particular stock or company. However, it does underscore the fact that Rivian is still a growing company that is subject to the same market forces as any other.

In conclusion, Rivian is making some big moves in the electric vehicle market, from implementing touchless deliveries and a new return policy to apologizing for broken promises and increasing prices. While there have been some missteps along the way, it's clear that the company is committed to building trust with its customers and pushing the boundaries of what's possible in the world of electric vehicles.

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