Learn more

Rivian Automotive Inc (NASDAQ:RIVN) CEO RJ Scaringe previously said that the EV maker’s upcoming R2 vehicle will be an SUV, smaller than its R1S SUV, and cheaper. However, in an interviewpublished on Tuesday, the CEO has finally zeroed in on $48,000 as the “sweet spot” the company is aiming for. What Happened: “The average transaction price of a vehicle, any vehicle in the United States, is around $48,000,” Scaringe told Forbes. “We think that’s a really important sweet spot, to be in that range, to create a viable option for customers that are coming out of combustion-powered vehicles getting…

cuu