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Rivian CEO Sees Opportunity in Thinning EV Competition Amid Combustion Engine Resurgence
25 Aug
Summary
- Rivian CEO surprised by US shift back to gas-powered vehicles
- GM investing $4 billion in American gas-powered vehicle production
- US government ending green energy and EV expansion programs
- Rivian expects "vacuum of competition" in EV industry
As of August 25th, 2025, Rivian CEO RJ Scaringe is perplexed by the United States' recent shift back towards gas-powered vehicle expansion. Just a year ago, Scaringe never thought he would see this reversal, but it has now become a reality.
The combustion engine is once again on the rise, with General Motors announcing a $4 billion investment in American gas-powered vehicle production. Meanwhile, the US government has moved to end many of its green energy and electric vehicle expansion programs and incentives, such as the EV tax credit.
Scaringe described this "reprioritization of capital towards internal combustion" as "very bad for my kids and their kids, and very bad for the US auto industry." However, he believes this shift may give companies like Rivian and Tesla a small advantage.
The Rivian CEO expects the EV industry to become more centralized, with a "vacuum of competition" as the pure-play EV-focused companies are the only ones left. While this could mean more market share for established players, Scaringe doesn't see it as a healthy outcome for the industry.
EV sales growth has already slowed in the US, which Scaringe blames on a lack of choice for consumers. He believes the industry needs 3 to 10 great EV options to draw in the majority of buyers who are not yet purchasing electric vehicles.
