Rivian (RIVN) jumps 14% after smashing 2Q delivery estimates

North America and Europe lead surge in global EV demand

Analyst Ranulf Orr from Citi Research reported a surge in demand for Battery Electric Vehicles (BEV) in May, with a 46% increase compared to the previous year. The primary drivers of demand growth were Europe and North America, experiencing respective year-on-year rises of 59% and 50%. In contrast, China's growth was more... More

Needham remains sidelined on Tesla (TSLA) following 2Q delivery beat

Needham reiterated a Hold rating on Tesla (NASDAQ: TSLA) after the electric giant posted its 2Q production and delivery numbers, beating consensus estimates by about 5%.

Over the past year, the growth in TSLA's production capacity has surpassed the growth in vehicle deliveries. As a result, there have been several rounds of price cuts throughout the year, with the most significant reductions occurring in early Q1. According to Needham, TSLA's inventory is still expanding, albeit at a slower pace. They consider this a mildly positive development, but they believe that additional confirmation... More

Tesla (TSLA) cuts prices in Japan

Tesla (NASDAQ: TSLA) revealed Tuesday that the electric vehicle giant cut prices for its Model 3 and Y electric vehicles by 3-4% in Japan this month.

According to the company's website, prices for all versions of its more affordable Model 3 have been reduced... More

Needham raises estimates on Rivian (RIVN), adds EV maker to Conviction List

Needham reiterated a Buy rating on Rivian (NASDAQ: RIVN) and raised their 12-month price target for the stock to $28.00 (From $26.00) after the electric automaker reported their 2Q production and delivery results. Needham also decided to add RIVN to its Conviction List (replacing ACVA).

RIVN reported Q2 production of ~14k vehicles, representing an... More

DA Davidson Upgrades Rivian Automotive Inc (RIVN) to Neutral, 'The Headlines Gradually Turn Positive'

DA Davidson analyst Michael Shilsky upgraded Rivian Automotive Inc (NASDAQ: RIVN) from Underperform to Neutral with a price target of $18.00 (from $11.00).

The analyst comments "We are upgrading RIVN to NEUTRAL (from UNDERPERFORM) as the cadence of headlines on the company begins to shift... More

Rivian Automotive Inc (RIVN) PT Raised to $28 at Needham & Company, Adds to Conviction List

Needham & Company analyst Chris Pierce raised the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $28.00 (from $26.00) while maintaining a Buy rating.

The analyst comments "We reiterate our Buy rating, add RIVN to the Needham Conviction List (replacing ACVA), and raise our... More

Rivian (RIVN) rallies after topping Q2 deliveries expectations

Rivian Automotive (NASDAQ: RIVN) shares are moving higher in pre-market Monday after the company said it produced 13,992 electric vehicles (EVs) in the quarter ending June 30.

The EV company also said it delivered 12,640 units. Analysts were looking for production numbers of 12,562 and deliveries of... More

Rivian Automotive (RIVN) Produces 13,992 EVs in Q2, Delivered 12,640

Rivian Automotive, Inc. (NASDAQ: RIVN) today announced production totals for the quarter ending June 30, 2023. The company produced 13,992 vehicles at its manufacturing facility in Normal, Illinois and delivered 12,640 vehicles during the same period.

These figures remain in line with the companys... More

Rivian Automotive (RIVN) Appoints Sarah O’Brien as Chief Communications Officer

Rivian Automotive, Inc. (NASDAQ: RIVN) today announced it has hired Sarah OBrien as its Chief Communications Officer. OBrien is joining Rivian from Meta, where she spent more than four years as Vice President of Executive and Product Communications. OBrien starts at Rivian today and will report directly to Rivian Founder and CEO RJ Scaringe.

Prior to Meta, OBrien was Vice President of Communications at Tesla, where she supported the launch of Model 3, Solar Roof and Teslas Semi Truck. Prior to Tesla, she worked at Apple for eight years,... More

Polestar (PSNY) to adopt Tesla's (TSLA) NACS in US and Canada

Swedish automaker, Polestar (NASDAQ: PSNY) announced Thursday that they have signed an agreement with Tesla (NASDAQ: TSLA) to adopt the North American Charging Standard (NACS), allowing access to Teslas expansive Supercharger network for all Polestar drivers in the United States and Canada.

The press release detailed the companys plans to include the... More