Rivian CEO Says US Needs More Under $50K EVs To Catch Up To China: ‘You Have To Have The Plumbing Right’ Rivian CEO Scaringe Says China Dominating America In EV Market Share. – Rivian Automotive (NASDAQ:RIVN)

Rivian Automotive RIVN CEO RJ Scaringe didn’t hold back at the NVIDIA GTC conference when he shared being upset at how far ahead China is than the U.S. in EV market share.

Here’s what Scaringe said sets China apart and how the U.S. can catch up.

What Happened: Scaringe has positioned Rivian to be a pure-play electric vehicle company, to have models that all consumers will enjoy and can afford. The company just isn’t there yet and according to Scaringe it couldn’t come soon enough.

During his recent GTC Conference fireside, Scaringe said 45% of all new car sales in China were electric vehicles, a figure significantly ahead of the 8% of new car sales that were EVs in the U.S.

Scaringe said China is innovating in the electric vehicle space at “lightning speed,” as reported by Electrek. The Rivian CEO said China is advancing battery technology, adding new models constantly and has vehicles priced conveniently for consumers.

The Rivian CEO compares that to the American market where technology isn’t advancing as much and there are only “two great, high compelling choices” priced under $50,000.

Scaringe highlights the Tesla Inc TSLA Model Y and Model 3 as being examples of electric vehicles under $50,000.

While Tesla has options and is leading the way, Scaringe says other automotive companies need to do more to keep up with China, including having vehicles priced under $50,000.

Rivian currently offers the R1S SUV and R1T electric pickup truck, which are both priced over $50,000. Rivian’s R2 will increase the customer base of who can afford their electric vehicles, Scaringe said.

Scaringe said the R2 offers “the magic of what is a Rivan at that higher price and puts it into a slightly smaller package.” The R2 will open up the potential customer base “dramatically” with a starting price of around $45,000, Scaringe said.

Read Also: Rivian Doubles Down On EV Innovation With Micromobility Spin-Off, Stock Gains

Why It’s Important: Even if the R2 is successful, Scaringe said the U.S. EV market needs more options. The Rivian CEO said there needs to be another “10, 15, 20 other options” under $50,000 to help the EV market truly grow in the U.S.

Scaringe says technology is also important and the company he co-founded along with Tesla have “redefined the network architecture” with integrated technology.

“You have to have the plumbing right,” Scaringe said of vertical integration.

Rivian has a joint venture with Volkswagen that will see the automotive company use its software in future electric vehicles.

Scaringe highlighted the Model Y last year, saying it was the best electric vehicle under $50,000 available on the market.

Rivian’s focus on new models under $50,000 is among the biggest catalysts for the stock moving forward. Demand for future Rivian models will show whether price point is one of the largest determining factors in buying an electric vehicle in the U.S..

RIVN Price Action: Rivian stock closed up 6.67% to $13.28 on Tuesday versus a 52-week trading range of $8.26 to $18.86. Rivian stock is up 0.2% year-to-date in 2025 and up 19.8% over the last year.

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Photo: R2, Courtesy Rivian