Rivian CFO suggests end of EV tax credit is forcing companies to finally make more affordable electric cars

Hot off the back of the EV tax credit closure, Rivian CFO Claire McDonough has claimed that the lack of purchasing incentives is forcing companies to finally make more affordable electric cars. Including Rivian.

As we meander into this electric automotive world, it’s apparent that they are more expensive to make. and therefore, more expensive to sell.

While a select few companies have been able to make affordable yet adept electric cars this year, bringing the entry barrier down, some luxury brands haven’t been able to match that trend.

However, it looks like Rivian has decided enough is enough, and to avoid being priced out, a new affordable 4×4 is on the way.

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Rivian CFO says no EV tax credits have sparked a new mass-market car coming in 2026

The end of the EV tax credit in America has already left some companies scrambling.

While sales rocketed in June, now they’re in freefall, and it comes as no coincidence.

At least in the eyes of Rivian, as Chief Finance Officer, Claire McDonough revealed plans for a cheaper EV in retaliation.

“One of our core strategies and approaches to offset some of the impacts of the elimination of some of the credits for consumers is to bring a product to market that opens up the addressable market of consumers that can now say yes to a Rivian,” she said.

“It meant that we needed to reduce our costs in our vehicle roadmap.

“And the key strategy for us is to bring to market a more mass-market-priced product, which is coming out next year.”

As to what this car will be, well, it’s only speculation, but Rivian officials have stated that they intend to stay away from other genres like sports cars, so another EV truck is likely.

Why the EV tax credit ending is having such an impact

With experts predicting a sharp fall-off in new electric car purchases, some brands like Ford and GM have extended an olive branch to buyers by offering their own discounts for three months.

Others have built an olive tree and made their own five-year tax credit lines.

But others haven’t been able to afford that, and it’s having a knock-on effect amid the possible insurgency of Chinese EVs.

Tesla has already released a ‘Standard’ Model 3 and Model Y, and now Rivian is following suit.

What this means is that brands are looking to make more affordable cars, but at the expense of some of the gadgets you might be used to.

Still, the Rivian CFO outlined plans for a new EV and the R2 truck, in a bid to continue growing the consumer reach.

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