Developments in the EV Sector: Tesla, Rivian, Lordstown, Toyota, and Fisker
23 April, 2023
By Dipak Jaiswal
Tesla's Q1 earnings report showed slower revenue growth and declining EPS but CEO Elon Musk predicts profits through self-driving software and Ark Invest predicts a 1,230% rise in shares over four years.
Rivian's R1T and R1S vehicles are now eligible for a $3,750 tax credit after meeting revised guidelines, and Volkswagen's 2023 ID.4 will qualify for a $7,500 credit.
Lordstown Motors resumes production of its Endurance pickup and partners with Amerit Fleet Solutions for customer service, but faces a possible delisting from Nasdaq.
Toyota plans to launch a new EV platform and sell 1.5 million EVs by 2026 as part of its 2030 action plan.
Fisker's Ocean SUV wins the Red Dot Design Award for Best Electric Vehicle before its release.
These developments demonstrate the opportunities and challenges in the rapidly evolving EV market.
Despite issues, Tesla remains the dominant force while Rivian, Volkswagen, Lordstown, Toyota, and Fisker strive to be competitive and innovative.