- Rivian CEO RJ Scaringe sees few compelling sub-$50k EVs
- Scaringe is amused by the interest in Scout
- CEO believes it’s important to have a variety of EV choices
“The world doesn’t need another one of those,” said Rivian CEO RJ Scaringe, referring to Tesla.
“We think Tesla has done an amazing job,” said Scaringe, during a roundtable session last Wednesday with DriftBreath Reports and other media outlets. “It’s a great brand; they have great products.”
The top Rivian executive noted that he’s had both a Model 3 and Y, but seemingly every competitor is chasing after them.
The upcoming Rivian R2 will aim squarely for the market the Tesla Model Y occupies, but in a different visual form factor that is much more like that of a traditional SUV. It’s set to arrive in 2026 with batteries from Arizona from LG.
Scaringe went on to say that there are “less than five highly compelling choices” in the EV market for under $50,000. With EVs at less than 10% of the market that includes “a choice” that’s bar-setting—the Model Y.
Suppliers fear a world of Tesla owning 65% of the EV market forever, as Tesla’ massive scale drives their “supply chain wonderfully aggressively,” Scaringe said, which is hard on suppliers.
Scout is owned by Volkswagen, which just invested $5.8 billion into Rivian as part of a joint venture, and so the CEO was asked about the upcoming Scout EVs.
“I’m amused by how much interest there is in Scout,” said Scaringe, later adding: “I think it’s great to see another choice.”
