US Stock Futures Steady as Cooling Inflation and Strong Earnings Support Markets 
US Dollar Slips as Soft Economic Data Eases Fed Rate Hike Expectations 
Strait of Hormuz Shipping Near Standstill After New Vessel Attacks 
Sun Pharma Wins U.S. Appeal in Pfizer Lipitor Antitrust Case 
Anthropic Eyes $6B Decart AI Acquisition Ahead of Mega IPO 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Barclays Warns U.S. Stock Rally May Be Detached From Fundamentals 
Aviva First-Half Operating Profit Jumps 24% as Direct Line Deal Boosts Growth 
LG, Nvidia Expand AI Partnership With Humanoid Robots, AI Factories 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
Gold Prices Rise as Weak US Data and Hormuz Risks Boost Safe-Haven Demand 
Australia’s Corporate Leaders Face Parliament Over KPMG Client Data Scandal 
Oil Prices Steady as Strait of Hormuz Traffic Slows Amid US-Iran Conflict 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
Morgan Stanley Sees Fed Holding Rates as U.S. Inflation Cools 
Paramount Skydance Clears Regulatory Hurdles for Warner Bros. Discovery Deal 
BSP Sees Philippine Inflation Easing, Keeps Policy Options Open 
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.
