Rivian CEO RJ Scaringe isn’t sweating President Trump’s plan to cut EV incentives. Speaking at Rivian’s new San Francisco store, Scaringe shrugged off the impact of losing the $7,500 tax credit from the Inflation Reduction Act. “I don’t think removing a $7,500 credit is going to change the end state,” he said. “The end state’s still clear. It’s still going to be electric.”
Sure, the subsidies were nice, but Rivian never counted on them. Scaringe said the company’s focus has always been on building vehicles people actually want to drive—credit or no credit. And if anything, he sees an opportunity to bring down prices, starting with the $45,000 R2 set to launch in 2026.
While Trump has criticized EVs for being “too expensive” and limited in range, Scaringe says the key to cutting through the noise is to make EVs so desirable that politics don’t matter. “You’re not buying it purely because it’s sustainable. You’re buying it because it’s exciting,” he said.
Even as Rivian’s stock dipped slightly after Trump’s announcement, Scaringe brushed it off as minor turbulence. For him, the future is clear: the world is going electric, and Rivian is ready to lead the charge.
Source: Business Insider
