Tesla Rises Ahead Of Crucial Q2 Deliveries, Rivian Affirms Goal After Volkswagen Deal, Nikola Ropes In Key Customer And More: Biggest EV Stories Of Last Week

Can Tesla Clear Lowered Bar? $Tesla(TSLA.US)$
Tesla is set to release its Q2 deliveries, with expectations for a 6% year-over-year decline to 440,000 units. Gary Black of Future Fund sees potential for an upside surprise due to strong weekly registrations in China. RBC Capital Markets reduced their estimate to 410,000 units, while Wedbush’s Daniel Ives suggests a possible rebound in Q2. Future focus includes H2 recovery, price stabilization, China growth, and an upcoming Robotaxi Day on Aug. 8.

Rivian Stock Takes Off On Financing Deal $Rivian Automotive(RIVN.US)$
Rivian shares surged 30% after announcing a joint venture with Volkswagen AG, which includes a $5 billion cash infusion. Rivian reaffirmed its guidance for a positive gross profit in Q4 and preannounced Q2 deliveries of 13,000-13,300 units.

Nikola Delivers To Walmart Canada $Nikola(NKLA.US)$
Nikola announced Walmart Canada as the first major retailer to deploy its hydrogen fuel-cell electric semi-truck, which can avoid 97 metric tons of CO2 emissions annually. Tesla's production struggles may benefit Nikola in meeting demands from customers like PepsiCo and Walmart.

BYD’s Uzbekistan Plant Now Operational $BYD COMPANY(01211.HK)$
BYD has started manufacturing at its Uzbekistan plant, producing plug-in hybrid models Song Plus DM-i and Chazor DM-i with an annual capacity of 50,000 units. Berkshire Hathaway continues to reduce its stake in BYD.

Ford’s $30k EV Plan $Ford Motor(F.US)$
Ford plans to release a sub-$30,000 EV within two-and-a-half years, as stated by CEO Jim Farley at the Aspen Ideas Festival. Farley emphasized the need to focus on smaller, more affordable EVs to achieve profitability, highlighting the high cost of batteries for larger EVs.