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Rivian and Volkswagen expand joint venture in hopes of surviving EV transition
- Rivian and Volkswagen are expanding their joint venture and increasing their total investment to $5.8 billion.
- The joint venture aims to launch cars equipped with Rivian's technology and software.
- Rivian's R2 is expected to be launched in the first half of 2026, with Volkswagen's first models following in 2027.
- The collaboration will help both companies navigate the electric vehicle transition and strengthen their global competitive position.
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Teslarati
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Why Tesla should benefit from Musk’s new DOGE role in Trump White House: Wedbush
- Tesla CEO Elon Musk will be one of the two leaders of President-elect Donald Trump’s Department of Government Efficiency (DOGE).
- Wedbush analyst Dan Ives believes that Musk's role in the Trump White House will be positive for Tesla.
- Musk's new role is expected to streamline Tesla's AI initiatives.
- Ives believes that the benefits for Musk and Tesla outweigh any potential negatives.
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Teslarati
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Elon Musk hints that public will be involved in D.O.G.E.’s operations
- Elon Musk has provided some details about how the United States’ Department of Government Efficiency (D.O.G.E.) would operate.
- D.O.G.E. would tap into the public for constant feedback and transparency.
- All actions of the Department of Government Efficiency will be posted online for maximum transparency.
- Musk also mentioned that a leaderboard will be created to highlight the most egregious use of tax dollars.
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Evannex
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Rivian & VW Join Forces in a $5.8 Billion EV Power Move
- Rivian and Volkswagen have formed a $5.8 billion joint venture to develop EV technology.
- Rivian gains financial backing for its affordable SUV, while VW addresses software challenges.
- Investors are excited about the growth potential and market response to the partnership.
- Challenges include Rivian's high-cost approach and potential cuts to EV incentives.
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Tesla rolls out latest Cybertruck recall that’s actually a recall
- Tesla is rolling out its latest Cybertruck recall.
- The recall is due to an issue with the drive inverter, which could cause a loss of drive power to the wheels.
- 2,431 vehicles are impacted by this recall.
- This is the sixth recall for the Cybertruck and previous recalls included issues with accelerator pedals, bed trim, wiper failure, and rearview camera malfunctions.
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Teslarati
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Hotel owner tears down Tesla chargers in frustration over Musk’s politics
- A hotel owner from Germany has torn down three Tesla Destination chargers on his property due to his disagreement with Elon Musk's politics.
- Andreas Eggensberger, the hotel owner, had been a supporter of Tesla and had set up the chargers in his hotel to support the company's mission.
- However, he became upset when he saw Elon Musk supporting Donald Trump during the U.S. presidential elections, which led him to dismantle the chargers.
- While some future hotel guests supported his decision, he faced criticism for making his establishment less convenient for electric vehicle drivers.
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Teslarati
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Tesla stock (TSLA) gets positive forecast from Jim Cramer: “That one has legs”
- Jim Cramer believes that Tesla stock's rally has the potential to continue.
- Elon Musk's contributions to the Trump campaign might result in rewards for Tesla, such as the approval of Full Self-Driving.
- Tesla's market cap surpasses $1 trillion amid the recent rally, causing losses for TSLA shorts.
- Overall, the market has positively responded to the election of Donald Trump.
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TechCrunch
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Tesla issues sixth Cybertruck recall in a year
- Tesla has issued its sixth recall for the Cybertruck since its launch a year ago.
- The recall affects 2,431 units of the 2024 Cybertruck built between November 6, 2023, and July 30, 2024.
- The recalled trucks are or were equipped with a faulty drive inverter, which may result in a loss of propulsion and increase the risk of a collision.
- Unlike previous recalls that required software updates, this recall will require the physical replacement of the drive inverter, free of charge.
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Teslarati
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Study reveals 43% of non-electric drivers considering EV for their next car
- A survey by Accenture reveals that 43% of non-electric drivers are considering an electric vehicle for their next car purchase.
- The survey involved 6,000 car buyers across the US, Italy, Germany, France, China, and Japan.
- 57% of drivers are expected to adopt an electric vehicle within the next 10 years.
- The survey also identified five customer segments in the EV market: Strategist, Individualist, Carer, Conservative, and Frugal.
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Insider
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Drivers are being 'ill-served by underwhelming EVs,' says boss of Tesla rival Lucid
- Lucid Motors CEO, Peter Rawlinson, criticized the state of electric vehicles (EVs) in the US, stating that most of them 'frankly suck' and are underwhelming.
- Rawlinson believes that the American public has been ill-served by the current offerings in the EV market.
- He also mentioned that Chinese EV firms are ahead of their US counterparts in certain areas, but attributed this to an 'uneven playing field' due to government subsidies.
- Rawlinson praised Lucid Motors' industry-leading technology but acknowledged the company's ongoing financial challenges.
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Insider
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Elon Musk took on another role, becoming Trump's efficiency boss. Here's the full list of his jobs.
- President-elect Donald Trump has tapped Elon Musk to lead a newly created Department of Government Efficiency. Musk will co-lead the unofficial Department of Government Efficiency with entrepreneur Vivek Ramaswamy. Musk heavily backed Trump in the presidential election, appearing at his rallies and donating millions of dollars to fundraising efforts. Musk leads Tesla and SpaceX as CEO and owns and plays a major part in running X. Musk is also involved in less-known companies, like Neuralink, which he cofounded and remains CEO of. Musk leads OpenAI's rival firm, start-up xAI.
- The role is just one of many Musk holds concurrently. His support has led to a role in the new government. He also has many other jobs, including leading Tesla, SpaceX, and AI startup xAI. Together, these two wonderful Americans will pave the way for my Administration to dismantle the Government Bureaucracy. Musk will lead the new unofficial department with Vivek Ramaswamy.
- Musk is arguably best known as the CEO of Tesla, which he was an early investor in, and has since gone on to build into a major force in the auto industry. Telsa is one of only a handful of American corporations that have reached a $1 trillion market cap, joining the likes of Apple and Nvidia. The billionaire is the boss of SpaceX, the aerospace firm he founded in 2002.
- In 2022, the business mogul acquired Twitter for $44 billion, later renaming the social media platform X and scrapping the bird logo. While CEO Linda Yaccarino runs X's daily operations, Musk remains heavily involved. Musk's Neuralink has tested its brain chip on two human patients. Another startup led by Musk is xAI, which, according to the Wall Street Journal, is in talks to raise funding to at a $40 billion valuation.
- Trump added that the pair will work to "slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies." It will also seek to "create an entrepreneurial approach to Government never seen before," though exactly how it will function remains unclear. Musk and his company aim to build a rocket system that will make it possible to build a city on Mars. The firm is developing two devices: A brain chip to help treat neurological conditions and a surgical robot which would insert the equipment into the patient.
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Teslarati
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Stellantis signs binding agreement for synthetic graphite
- Stellantis signed a binding agreement with NOVONIX for synthetic graphite material.
- NOVONIX plans to provide a minimum of 86,250 tonnes up to 115,000 tonnes of synthetic graphite material between 2026 and 2031.
- Stellantis will use the synthetic graphite material to supply its cell manufacturing partners in North America.
- Stellantis has been facing pressure in the United States to honor its investment commitments and manage operations effectively.
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Teslarati
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Tesla Superchargers most liked by Norway EV drivers
- A survey conducted by EPSI among Norwegian electric vehicle drivers has determined that Tesla Superchargers are still the most liked charging network in the country.
- Norwegian charging operators scored 64.7 out of 100 points this year, a decrease from previous years.
- Tesla Superchargers received the highest rating of 77.6 points, followed by newcomer Uno-X at 69.6 points.
- While Tesla Superchargers received a lower score this year, they were still rated highly for charging experience and price, but customers expressed concerns about social responsibility.
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Insider
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Cybertruck owners face another recall — and this one's likely to be a hassle
- Tesla is recalling the Cybertruck for the sixth time in 12 months due to a problem with the drive inverter.
- Approximately 2,400 Cybertrucks are affected and will require a physical fix.
- The issue can cause a loss of drive power, increasing the risk of collision.
- Tesla has faced multiple recalls for the Cybertruck, which has been plagued by quality issues.
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Teslarati
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CATL open to US expansion if Trump approves
- CATL, a major battery supplier for Tesla, is open to building a factory in the United States if President-elect Donald Trump approves of Chinese investments.
- CATL has expressed its desire to invest in the US, but faced previous hurdles from the US government.
- The relationship between Chinese battery suppliers and US companies has faced scrutiny, with CATL having ties to Tesla, Ford, and General Motors.
- In the past, CATL's relationship with Ford raised concerns and faced investigation from the US Congress' House Ways and Means Committee.
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