‘Fork in the road’: CEO of Amazon-backed Rivian on why carmakers need to invest in EVs

RJ Scaringe says firms focused on selling fossil fuel engines risk being ‘woefully behind’ on technology by end of decade

Carmakers that focus on selling fossil fuel engines are at risk of being “woefully behind” on technology by the end of the decade, according to the boss of Rivian, an Amazon-backed US electric carmaker.

RJ Scaringe, Rivian’s founder and chief executive, said the car industry has reached a “fork in the road” in the choice between short-term profits and the heavy investments, particularly in software, that will be required to survive.