Rivian Cancels Least-Expensive Version of Electric Pickup Truck

Gabrielle Coppola, Bloomberg News

The central touchscreen display is demonstrated inside the Rivian R1T electric vehicle (EV) pickup truck during a media tour outside the company's manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022. Rivian Automotive Inc. produced 2,553 vehicles in the first quarter as the maker of plug-in trucks contended with a snarled supply chain and pandemic challenges. , Bloomberg

(Bloomberg) -- Rivian Automotive Inc. eliminated the least-expensive trim of its R1T electric pickup truck, the company confirmed via email, effectively raising the price of its entry-level model.

Demand for the Explore model, which retailed at $67,500, was smaller than anticipated, and eliminating it will help the EV manufacturer “streamline our supply chain and ultimately deliver vehicles more quickly,” according to a letter cited on the Rivian Owners Forum Thursday.

The “vast majority” of customers have ordered the next trim level, the $73,000 Adventure configuration, according to the letter.

Rivian confirmed it sent the letter to people who had preordered the Explore package. Customers will have until Sept. 1 to upgrade or cancel their order, the company said.

In March, the Irvine, California-based carmaker attempted to raise sticker prices of the R1T pickup and R1S SUV, citing higher input costs and a shortage of semiconductors, only to roll back the increases in the face of a customer backlash.

The Verge reported the discontinuation of the Explore configuration earlier Thursday.