The Tesla Model Y continues to dominate the electric vehicle market as the best-selling electric car globally. However, when considering the best electric car under $50,000, Rivian CEO RJ Scaringe believes that the Model Y takes the crown. The Hyundai Ioniq 5 is a strong contender in this category as well, according to some experts at InsideEVs.
At a recent roundtable discussion at the LA Auto Show, Scaringe shared his thoughts on Tesla, acknowledging their success in the industry. He praised Tesla for its innovative products and strong brand presence. Scaringe himself has owned both a Tesla Model 3 and Model Y, highlighting his admiration for Tesla’s vehicles. He mentioned that there are only a few highly compelling choices in the sub-$50,000 electric car segment, with the Model Y standing out as the benchmark.
Looking ahead, Rivian plans to introduce more affordable electric vehicles priced under $50,000, such as the R2, R3, and R3X. While Rivian’s current offerings, the R1T and R1S, are priced above $50,000, recent price cuts have made them more accessible to consumers.
In the future, Scaringe may prefer Rivian’s upcoming EVs over the Model Y, given their affordability and advanced features. The Rivian R2, R3, and R3X are expected to offer competitive options in the electric vehicle market, further expanding Rivian’s presence in the industry.
As the electric vehicle market continues to evolve, competition among automakers intensifies, driving innovation and affordability for consumers. With Rivian’s promising lineup of electric vehicles on the horizon, the landscape of the industry is set to change, offering consumers more choices in the sub-$50,000 electric car segment.