The past week has been a rollercoaster ride for the electric vehicle (EV) industry, with Tesla Inc. TSLA at the center of the action. The company saw a surge in Cybertruck sales, but this success came at the expense of its luxury Model S and X sales. Meanwhile, Tesla CEO Elon Musk denied the company’s involvement in a fire at a power plant, and rival Jeff Bezos expressed confidence in the competitive landscape of the commercial space industry.
Cybertruck Success Overshadows Tesla’s Luxury Models
Tesla’s Cybertruck sales in the U.S. last year weighed heavily on the company’s other luxury offerings, including the Model S sedan and the Model X SUV, according to recent data from automotive research firm Kelley Blue Book. Tesla sold nearly 39,000 Cybertrucks in 2024, but Model S and X sales took a major hit, dropping 31% and 20% respectively.
Musk Denies Tesla’s Involvement in Power Plant Fire
Tesla Musk denied the company's involvement in a fire that broke out at a 750 MW Moss Landing battery storage facility. Musk stated that the fire had nothing to do with Tesla and that their Megapacks were operating well.
Bezos Confident Despite SpaceX’s Close Ties to Trump
Amazon.com Inc. AMZN founder Bezos voiced confidence in the competitive landscape of the commercial space industry, despite President-elect Donald Trump‘s close ties with rival Elon Musk‘s SpaceX. Bezos stated that he takes Musk at face value, dismissing concerns about SpaceX undercutting Blue Origin. Read the full article here.
Record High U.S. EV Sales in 2024
The U.S. automotive industry saw a record number of electric vehicles sold in 2024, with over 1.3 million units sold, breaking last year’s record with a 7.3% year-over-year increase. This record was achieved despite some weakness from sector leader Tesla.
Rivian Joins Tesla, Ford in Wildfire Relief Efforts
California-based EV startup Rivian Automotive Inc. RIVN joined Tesla and Ford Motor Co. F in supporting relief activities in the Los Angeles area battling wildfires. Rivian deployed vehicles to transport relief supplies and support emergency response.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
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