Rivian CEO RJ Scaringe on Friday discussed the electric vehicle market with CNBC’s Jim Cramer, saying EV automakers need to give consumers a wider variety of models to choose from.
“What I think we’re witnessing today is a lack of choice,” Scaringe said. “There’s not enough vehicles across price points and form factors to give people viable alternatives to their combustion vehicles that they’ve been buying.”
Rivian is trying to broaden its offerings with a new line of R2 vehicles, which Scaringe will be smaller and less expensive than current Rivian models. The company’s current vehicles are priced upwards of $70,000.
There’s not much choice in the ICE market either. Compacts have almost entirely disappeared. Ford stopped making sedans. Small trucks like the B2000 are gone. It’s nothing but expensive SUVs and giant trucks at most car dealers.