Latest News Updates From Kara Carlson

Tesla's third-quarter profit beat estimates, potentially assuaging concerns about the EV maker’s increased investment into new areas such as robots and AI.

Tesla held a product reveal designed in collaboration with SpaceX that outfitted the Roadster with air thrusters that jumped over other cars and flipped in midair.

The Saudi Arabia-backed company said Oct. 5 that it assembled 2,954 EVs in the third quarter, down about 24% year over year and a 38% reduction from the previous three-month period.

The automaker delivered 486,532 vehicles worldwide in the third quarter. That compared with 463,761 expected on average in analyst estimates compiled by Bloomberg.

The company likely delivered around 463,761 vehicles worldwide in the last three months, according to analysts’ estimates compiled by Bloomberg, down about 7% from a year earlier.

The leadership change injects a measure of uncertainty at Rivian as the company works to accelerate deliveries of its new, lower-cost line of vehicles.

The R2 line, with an eventual target price of around $45,000, is aimed at pulling in more customers amid broad concerns about automotive affordability in the U.S. 

Rivian said it saw strong quarter-over-quarter growth for its commercial van and R1 electric vehicles as it began sales of the new R2 electric SUV.

A fatal collision involving a Tesla sedan is under federal investigation after an electric vehicle slammed into a home in Texas, killing a woman inside.

Rivian Automotive is cutting hundreds of jobs as part of a push to reduce costs while it rolls out a new line of electric vehicles.