Rivian CEO Unfazed by Potential Repeal of U.S. EV Tax Credit Under Trump

Credit: Rivian

Rivian CEO RJ Scaringe said the electric vehicle maker is unconcerned about potential changes to U.S. electric vehicle policies under former President Donald Trump, including the possible repeal of the $7,500 federal tax credit for EV buyers.

Speaking with Automotive News at the opening of Rivian’s new showroom in San Francisco, Scaringe emphasized that the company’s mission remains focused on advancing electrification regardless of government subsidies. “I don’t think we’re particularly worried about any of it because whatever happens will be equally applied to all,” Scaringe said. “I started the company with the view of making highly compelling products, and none of my decision to start Rivian had anything to do with what the policy was going to look like.”

See also: Rivian and Volkswagen’s EV Tech Collaboration Sparks Interest from Other OEMs

Credit: Rivian

Scaringe acknowledged that while some legacy automakers may divert investment back to internal combustion engine development for short-term profitability, he cautioned that such a move would be a miscalculation for the industry’s long-term future. “We’re really talking about U.S. leadership in the future of technology as it pertains to transportation,” Scaringe noted. “This is not a political thing. The future of transportation will be electric.”

Rivian recently secured a $6.6 billion loan from the Department of Energy to fund the construction of its factory in Georgia, with the agreement finalized earlier this month. Scaringe dismissed speculation that the Trump administration might seek to overturn the loan, describing it as legally binding. “We signed a legally binding agreement with the Department of Energy, to be clear,” he said, adding that the loan includes multiple conditions negotiated over several years.

See also: Rivian to Introduce Hands-Free and Eyes-Off Driving Systems in Next Two Years

The company delivered 51,579 vehicles in 2024, up slightly from the 50,122 units in the previous year. In June, Rivian announced a $5 billion investment deal with Volkswagen, bolstering its position in the EV software market. Despite these gains, Rivian, like other emerging EV manufacturers, continues to face challenges in scaling production and achieving profitability.

Tesla CEO Elon Musk has previously pointed out the financial difficulties EV startups may encounter, citing Tesla’s near-bankruptcy during its Model 3 production ramp-up. Musk has also expressed concerns about the financial viability of companies like Rivian and Lucid, warning of potential bankruptcy risks without prudent financial management.

See also: Rivian to Expand Electric Delivery Van Sales Beyond Amazon with New Corporate Deals

Credit: Rivian
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