Rivian stock rebounded Thursday morning following the news that reservations for its electric trucks have been increasing, despite recent price hikes and production issues.
CEO RJ Scaringe reported on Rivian’s first-quarter earnings call Wednesday that the company had received 10,000 new reservations in the U.S. and Canada since raising base prices by $12,000 and more across the lineup of R1T and R1S pickups and SUVs on March 1.
The average price for the additional vehicles reserved was $93,000 and Scaringe said it currently has a total of over 90,000 reservations.
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