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Fortune

Business

Sasha Rogelberg

Rivian CEO says midprice EV sales are still 50% Tesla: 'That's not a reflection of a healthy market'

RJ Scaringe Rivian Tesla Inc. United States Ford

RJ Scaringe, wearing a dark green shirt and glasses, gestures with both hands as he speaks. (Credit: Stuart Isett—Fortune)

It’s not that Americans don’t want electric vehicles, according to the chief executive of American EV-maker Rivian. It’s just that they don’t have many good options.

At the Fortune Brainstorm AI conference in San Francisco earlier this month, Rivian CEO RJ Scaringe pointed to the scant choices consumers have in picking a midprice EV, noting that Tesla has continued to dominate sales, making up about 50% of the market share, with few other competitors making an impression.

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