Rivian's CEO has a theory for the slowdown in EV growth

• Rivian CEO RJ Scaringe says the EV industry slowdown is due to an "extreme" lack of choice.
• Scaringe attributes it to a lack of variety in EV models under $50,000.
• He believes there's a demand for diverse EV designs to compete with Tesla's dominance.

Rivian CEO RJ Scaringe said the EV industry may be growing at a slower pace — but it's still growing, according to an interview published Monday with The Verge.