Rivian CEO Says Tesla's 50% EV Market Share Is a Problem [Yahoo! Finance]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance
that stunned even seasoned Wall Street reporters: “If you think of it as a consumer, you have 300 different internal-combustion choices — and maybe one truly compelling electric choice.” That, Scaringe said , is the stark truth behind the U.S. electric-vehicle market right now: Tesla accounts for roughly half of all EV sales under $50,000, a dominance former Big Three executives would envy — but which Rivian's leader calls “not a reflection of a healthy market.” According to industry data shared at the Fortune Brainstorm AI event, EVs priced in the mid-range (roughly $30,000 to $55,000) still see about 50% of their sales captured by Tesla models, even after steep price cuts on the Elon Musk-led automaker's entry-level Model 3 and Model Y. That's despite the collapse of the generous $7,500 federal EV tax credit in September, a government incentive that had earlier boosted deliveries for Rivian, Ford, GM and others. For Rivian, which has spent years building a brand around rugge
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