Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
China Inflation Accelerates in August as CPI, PPI Rise 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
China to Inject $45 Billion Into State Financial Institutions 
Novartis Shares Plunge After Muscle Drug Fails Phase III Trial 
Spire Healthcare Shares Jump on £1.03 Billion Takeover Deal 
Volkswagen Approves 50,000 More Job Cuts in Major Restructuring 
South Korea GDP Surges on Chip and AI Boom 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
OpenAI Targets Specialized Industries as Enterprise AI Demand Grows 
South Korea, US Discuss Chip Investments Amid Tariff Plans 
Nvidia Eyes $2.5 Billion Investment in Thinking Machines Lab 
Add as a preferred source on Google
Rivian, an American electric vehicle carmaker and automotive technology firm headquartered in Irvine, California, has discontinued its cheapest package option for its electric pickup truck and sports utility vehicle (SUV). The move ultimately raised the price of its entry-level EV model unit.
According to CNN Business, Rivian will stop offering the Explore Package to customers as an option when buying the R1T pickup truck and R1S SUV. This is the company’s lowest-priced package, and it is now being scrapped.
Originally, the said EV models came in two types of packages, and these are Adventure and Explore. It was observed that most customers have opted for the former, and only a small percentage had chosen the entry-level Explore configuration.
Those who chose the Explore package were able to save at least $5,500. On the other hand, the Adventure Package, which costs $73,000 and up, offers a premium interior, security cables, and Gear Guard remote monitoring system. The company said that its decision to cancel the Explore option was made based on the demand of the customers.
“After weighing customer demand, Rivian decided to remove Explore Package as an option when configuring an R1T or R1S. We realize this news comes as a surprise and apologize to customers who have had their planning impacted,” Rivian said in a statement.
The automaker added, “When we initially launched our vehicles, we planned to offer two packages, Adventure and Explore, to offer more variety to our customers. The Explore Package was designed as our entry price option and it was our expectation that many customers would choose it but so far only a few customers have chosen this and the majority went for the Adventure.”
Bloomberg reported that Rivian also confirmed that it distributed a notice or letter to customers who placed an order for the Explore package earlier. The company informed them that they will be given until Sept. 1 to either upgrade their option to Adventure or cancel their order altogether.
Customers can reconfigure their order online, and Rivian will update them with a new delivery window estimate. In case the customers failed to take action by the given date, the company will automatically cancel the preorder for the Explorer package. Meanwhile, for those who will opt to cancel, they will be receiving a full refund until Sept. 16.
