Rivian has agreed to pay $250 million to settle a class-action shareholder lawsuit filed after the company suddenly hiked prices on its R1 pickup truck and SUV in 2022. The lawsuit alleged Rivian had included misleading statements and figures in regulatory filings in the run-up to its 2021 IPO about the costs required to build […]
Rivian will pay $250M to settle lawsuit over R1 price hike Read More »
Rivian’s founder and CEO RJ Scaringe is taking on a new role at his company as part of a restructuring ahead of next year’s launch of the R2 SUV, which involves a layoff of more than 600 employees. Scaringe told employees in an email on Thursday that he will be acting as Rivian’s chief marketing
Rivian CEO takes top marketing role in shakeup ahead of R2 launch Read More »
Tesla’s record sales quarter has offered the company a reprieve after a terrible start to 2025. But CEO Elon Musk is focused on building a “robot army” and making good on his years-long, unfulfilled promise of self-driving cars — tasks he needs to accomplish if he is to unlock the full value of the $1
Elon Musk frets over controlling Tesla’s ‘robot army’ as car biz rebounds slightly Read More »
Tesla delivered a record number of vehicles in the third quarter of 2025, thanks in large part to a rush of customers in the United States who took advantage of the expiring federal EV tax credit. But that record quarter did not lead to greater earnings. In fact, Tesla’s third-quarter profit was still 37% lower
Tesla’s record sales quarter barely boosted profit Read More »
General Motors is abandoning its BrightDrop electric delivery vans, just four years after introducing the vehicles. The company announced Tuesday alongside third-quarter earnings that it made the decision because the “commercial electric delivery van market developed much slower than expected.” GM also blames the “changing regulatory environment and the elimination of tax credits in the
General Motors gives up on BrightDrop electric vans Read More »
Tesla has spent more than a year teasing that “more affordable models” of its vehicles were on the way, and on Tuesday, the company finally revealed them. The company is now selling a more bare-bones version of the Model 3 sedan and the Model Y SUV, which start at $36,990 and $39,990, respectively The new
Tesla reveals slightly cheaper ‘standard’ versions of the Model 3 and Model Y Read More »
Lucid Motors delivered a record 4,078 vehicles in the third quarter, likely buoyed by a combination of more Gravity SUVs hitting the road and a rush of customers taking advantage of the expiring federal EV tax credit. The Saudi-owned luxury EV startup is still way off the projections it used to go public in 2021
Lucid Motors sets record as Gravity sales pick up and tax credit expires Read More »
Rivian is changing the door handle design on its upcoming R2 SUV after employees and customers raised safety concerns, according to Bloomberg News. The automaker is one of many that has leaned into electronically-latched door handles over the last few years. While this allows for sleeker presentation and more aerodynamic design, it often results in
Rivian is redesigning the R2 SUV’s door handles for better safety Read More »
Rivian now expects to deliver no more than 43,500 electric vehicles by the end of 2025, which would represent a nearly 16% drop from last year’s sales. The company announced the new guidance for investors on Thursday alongside production and delivery figures for the third quarter of this year. Rivian saw deliveries jump to 13,201
Rivian’s best-case guess for 2025 sales is a 16% drop from last year Read More »
Tesla’s sales growth has vanished over the last year-and-a-half, but the company just registered its best quarter of deliveries ever, in large part because buyers rushed to take advantage of the $7,500 federal EV tax credit before it went away. Tesla delivered 497,099 vehicles over the last three months, the company announced Thursday. That’s a
Tesla has its best sales quarter ever as EV tax credit expires Read More »
