Tesla's Challenges, Rivian's Triumph, And Lucid's Ambitions: This Week In EVs

The past week has been a whirlwind in the electric vehicle sector, with significant developments involving major players like Tesla Inc. TSLA, Rivian Automotive Inc. RIVN, and Lucid Group Inc. LCID. From legal battles to production milestones, here’s a look at the stories that shaped the weekend.

‘Big Short’ Trader Danny Moses Exits Tesla Short

Moses Ventures founder and famed trader Danny Moses has decided to cease shorting Tesla. Moses, known for his role in “The Big Short,” had been betting against Tesla since its acquisition of SolarCity in 2016, which he criticized as a poor decision. However, he noted that Tesla began trading based on fundamentals earlier this year, making it challenging to maintain a short position.

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Cathie Wood Criticizes Delaware Judge Over Musk’s Pay Plan

Ark Invest CEO Cathie Wood has strongly opposed a Delaware judge’s decision to nullify Elon Musk‘s $56 billion compensation package for the second time. Wood labeled Judge Kathaleen McCormick as an “activist judge,” arguing that the ruling undermines shareholder voting rights, which had twice approved the package with significant support.

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See Also: What’s Going On With NIO Stock Today?

Rivian Customers Show Strong Brand Loyalty

A survey by Consumer Reports reveals that Rivian Automotive customers are highly satisfied, with 86% indicating they would purchase from the brand again. This marks the second consecutive year Rivian has topped the car brand satisfaction list, thanks to its popular R1T electric truck and R1S electric SUV.

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Tesla’s Cybertruck Faces Challenges Despite Strong Sales

A year after Tesla began delivering the Cybertruck, the vehicle has become the third-best-selling EV in the U.S., trailing only the Model Y and Model 3. Despite selling 28,250 units by September, the Cybertruck still has a long way to go to meet Elon Musk‘s ambitious goals.

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Lucid Begins Production Of Gravity SUV

Lucid Group Inc. has started production of its second vehicle, the Gravity SUV, at its Arizona facility. The company announced this milestone with a social media post featuring CEO Peter Rawlinson driving the new SUV. This move positions Lucid to compete directly with Tesla’s Model X.

Read the full article here.

Read Next:

• Elon Musk Lauds Ro Khanna, Calls Him A ‘Sensible Moderate’ After California Democrat Calls Out Gavin Newsom’s Exclusion Of Tesla From EV Credit Policy

Photo courtesy: Pixabay

This story was generated using Benzinga Neuro and edited by Ananya Gairola