American-Made Electrification, With RJ Scaringe of Rivian

From the Ground Up

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15d ago 56:05

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Before Teslas started popping off the line in 2011, few EVs were on roads. Recently, the terrain has become far more crowded. Teslas aren’t sharing the road just with major automotive companies that make their own EVs, but with smaller operators that are gaining ground as well. Christine reminded me of a new company called Slate, led by Chris Barman, who, like Diana, clocks in at 5 feet, 2 inches. But unlike Diana, Barman is a car industry veteran—and one to watch.

And then there’s Rivian, the Irvine, California, electric vehicle maker that’s ascended in America’s consciousness—particularly in the wake of Tesla owner Elon Musk’s efforts at the Department of Government Efficiency to dismantle the federal government. Amid the Tesla takedown—which is seeing some Tesla owners reportedly trading them in for Rivians—the latter car company is having a moment.

Still, electric vehicles are expensive. And the lack of an affordable option for consumers has been the key barrier to the proliferation of EVs. “The biggest limiting factor today is lack of choice,” R.J. Scaringe, Rivian’s founder and CEO, told Diana on the latest episode of From the Ground Up.

But that’s starting to change. Scaringe says his electric car company is gearing up for the launch of not just one but two new EV models, the R2 and the R3. (And yes, dependably, Diana made an R2D2 joke.) He also mentioned the about-face among suppliers. Rather than being laughed out of meetings—which he says actually happened early on with investors—Scaringe, today, says he’s able to negotiate better terms with suppliers. And with that, Scaringe says he’s able to bring the R2 to market with a price tag of $45,000. The R3 should be even less expensive.

The jury is still out about how tariffs will affect Rivian and its broader industry. For the time being, at least, the sun appears to be shining on at least one EV carmaker.

Additional research and information:To read more Inc. coverage about Rivian:Is Rivian Going Big on AI? A New Board Member Suggests Ambitious Plans Rivian-Backed Startup Raises $105M to Launch Affordable Micro Vehicles Rivian to Introduce Hands-Free Driving System This Year Visit Rivian Automotive

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