RJ Scaringe, CEO of Rivian, highlighted the challenges posed by President Trump's auto tariffs on the EV industry. With tariffs of 25% on imported vehicles and levies on auto parts, Scaringe expressed concerns about rising costs and production delays. He emphasized the complexity of the automotive supply chain, which involves numerous suppliers and sub-suppliers. Additionally, Scaringe pointed out that restrictions on rare-earth materials from China complicate the situation, as these materials are essential for EV batteries and motors, which constitute a significant portion of manufacturing costs.
The trade restrictions and what we're seeing in terms of rare earth metals out of China, that's a real challenge for electric vehicles.
One of the things with automotive is the supply chain is so complex, where we have hundreds of suppliers providing parts...
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