Rivian CEO says it 'blows my mind' that the US auto industry is reprioritizing capital toward gas-powered vehicles [View all]
Rivian CEO RJ Scaringe never thought he would see the United States turn back to gas-powered vehicle expansion. Then it did.
Combustion engines are once again on the rise. Recently, General Motors announced a $4 billion investment in American gas-powered vehicle production. Meanwhile, the US government moved to end many of its green energy and electric vehicle expansion programs and incentives, such as the EV tax credit.
Speaking on the "InsideEVs" podcast, Scaringe said that the shift had perplexed him — and that it may give companies like Rivian one small advantage.
Scaringe said he saw a "reprioritization of capital towards internal combustion," one that was "very bad for my kids and their kids, and very bad for the US auto industry."
https://www.msn.com/en-us/money/companies/rivian-ceo-says-it-blows-my-mind-that-the-us-auto-industry-is-reprioritizing-capital-toward-gas-powered-vehicles/ar-AA1LbNV5
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