Tesla is reportedly gearing up to launch its most affordable vehicle yet, the Model Q, priced below $30,000 after subsidies. Expected in the first half of 2025, this smaller, cost-effective EV could significantly boost Tesla’s growth.
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Tesla’s anticipated affordable compact EV and the Cybertruck’s release face delays, according to industry experts. Gary Black and Dan Ives offer insights into Tesla’s future plans, impacting investor expectations and the timeline for autonomous driving technology.
NIO, the Chinese electric vehicle (EV) manufacturer, is expanding its global reach by opening its first Nio House in Abu Dhabi, marking its entry into the MENA market. Despite a recent downgrade from Goldman Sachs and a challenging market, NIO stock is seeing a pre-market surge.
Rivian Automotive (RIVN) is set to receive a potential $6.6 billion loan from the US Department of Energy, significantly expanding its EV manufacturing capacity in Georgia and creating thousands of jobs. This funding will support production of its new midsize SUV and crossover models.
Volkswagen has upped its investment in Rivian Automotive to $5.8 billion, a move that could be a crucial lifeline for the struggling EV maker. Analysts believe this partnership will help Rivian stabilize its finances and fuel its future growth, focusing on production and cost efficiency.
XPeng Inc.’s (XPEV) latest electric sedan, the P7+, has garnered significant interest in China, with deliveries officially commencing on November 11th. The company’s NYSE-listed shares have surged in response, reflecting investor optimism about the model’s potential success. The P7+ is available in three variants, with the higher-end model priced competitively against Tesla’s Model 3.
Rivian Automotive, a prominent electric vehicle manufacturer, reported a significant increase in gross loss per unit delivered in the third quarter, despite reaffirming its 2024 delivery goals. The rise in loss per vehicle is attributed to a drop in deliveries, which were the lowest since the beginning of 2023. Despite challenges, Rivian remains optimistic about its future prospects, aiming for profitability in the fourth quarter.
The Future Fund, an active ETF managed by Gary Black, has trimmed its Tesla holdings despite the company’s stock performance. Black expressed concerns about the impact of Tesla’s price cuts on earnings and the viability of its robotaxi technology. However, Tesla remains a top performer for the fund, with a 29% gain in 2024.
After a brief hiatus from the US EV market, Mazda is making a strong return with plans for a new electric SUV and a hybrid system for its popular CX-5 crossover. This move indicates Mazda’s commitment to electrification and hints at exciting new offerings for American consumers.
Kia has announced pricing for the 2025 Niro EV, offering a compelling blend of electric range, advanced features, and affordability. The Niro EV boasts an EPA-estimated 253 miles of range on a single charge and now comes standard with rear seatbelt pre-tensioners across both trims. The Wave trim receives additional safety and convenience features, making it an even more attractive option for tech-savvy drivers.