- Rivian CEO RJ Scaringe sees few compelling EVs under $50k
- Scaringe is excited by the interest in Scout
- The CEO believes it is important to choose a versatile EV
“The world doesn't need any of that,” 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 Green Car Reports and other news outlets. “It's a great product; they have great products.”
A Rivian executive noted that they have the Model 3 and Y, but it seems that every competitor chasing them.
The upcoming Rivian R2 will be aimed more at the Tesla Model Y market, but with a different visual style that is more like a conventional SUV. It is scheduled to arrive in 2026 with batteries from Arizona from LG.
Scaringe went on to say that there are “no less than five very compelling options” in the EV market under $50,000. With EVs less than 10% of the market including “choice” that sets the bar– Model Y.
Suppliers fear the world of Tesla owning 65% of the EV market forever, as Tesla's large scale drives their “supply chain incredibly,” said Scaringe, which is difficult for suppliers.
Scout is owned by Volkswagen, which recently invested $5.8 billion in Rivian as part of a joint venture, so the CEO was asked about the upcoming Scout EVs.
“I feel bad with how much interest there is in Scout,” Scaringe said, later adding: “I think it's good to see another way.”