Major electric vehicle companies like Tesla, Rivian, NIO, Li Auto, and XPeng report strong delivery numbers.

From Nasdaq: 2024-07-05 06:05:00

In recent news, major electric vehicle companies like Tesla, Rivian, NIO, Li Auto, and XPeng released their delivery numbers for the second quarter of 2024. Tesla beat analysts’ expectations by delivering 443,956 cars globally, while NIO saw a 98.1% increase in year-over-year deliveries. Li Auto reported a 46.7% increase in deliveries, with a total of 108,581 vehicles in Q2.

XPeng delivered 10,668 EVs last month, marking a 24% year-over-year increase. Rivian produced 9,612 vehicles in Q2, down from the previous quarter. However, they maintained their full-year delivery guidance of 57,000 units. Rivian recently secured a major deal with Volkswagen, with the German auto giant investing up to $5 billion in the California-based EV startup.

As the electric vehicle industry continues to heat up, investors can expect announcements of upcoming EV models and other important updates. Zacks Investment Research highlights top stock-picking strategies that have shown remarkable gains over the years. With the market constantly changing, it’s crucial for investors to stay informed on potential opportunities for growth in the industry.



Read more at Nasdaq: The Zacks Analyst Blog Highlights Tesla, Rivian, NIO, Li Auto and XPeng