In recent years, the electric vehicle industry has undergone substantial changes, with legacy automakers expanding EV offerings and the Biden administration pushing for greater adoption. However, overall EV sales have slowed, and new governmental measures threaten previous incentives. Rivian's CEO, RJ Scaringe, believes these changes may hurt the US auto industry while benefiting Rivian and Tesla. Rivian is preparing to launch a quad-motor platform for its new R1 truck and SUV, priced between $116,000 and $126,000, amid rising consumer demand for more affordable EV options.
Rivian's CEO, RJ Scaringe, expressed concern over the recent changes in EV tax credits, stating they could negatively impact the overall US auto industry.
Amidst slowing global sales, Rivian and Tesla remain prominent players in the electric vehicle market despite facing significant challenges from both competition and government policy.
Scaringe acknowledged that the current administration's shift could be detrimental to the wider auto industry while simultaneously benefiting Rivian and Tesla.
The company showcased its upcoming quad-motor platform for the R1 truck and SUV, which targets the premium segment of the market, priced between $116,000 and $126,000.
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