XPEV - Tesla Persists With Price Nudges Rivian's R2 Teaser Lucid CEO's Cash Bonus Raises Eyebrows And More: Biggest EV Stories Of The Week | Benzinga
Electric vehicle stocks turned in a mixed performance in the week that ended on Feb. 16 amid the stock market volatility. Tesla, Inc. (NASDAQ:TSLA) advanced for a third straight week, although it still bounced around the bottom, while shares of Rivian Automotive, Inc. (NASDAQ:RIVN) pulled back after a solid run in the previous week. The upcoming week is pivotal as it will feature earnings reports from startups like Rivian.
Here are the key events that happened in the EV space during the week:
Tesla Model 3 LR Price Hikes, Growing NACS Adoption And More: After a temporary $1,000 price cut for the Model Y Long Range in the U.S. on Feb. 10, Tesla tinkered with prices once again as it raised corresponding Model 3 variant’s prices by $500. An existing Model Y LR inventory vehicle (with the tax credit) is now even more economical compared to the custom-made Model 3 LR, coming in roughly $1,000 cheaper.
Stellantis N.V. (NYSE:STLA) announced that it would adopt Tesla’s North American Charging Standard. The legacy automaker said it would incorporate Tesla’s NACS plug into select battery electric vehicles in North America starting in 2025. Until then, the company will provide adapters for vehicles equipped with the combined charging system port to utilize Tesla's supercharger network, it said.
This week, Swedish labor union IF Metall announced a temporary relaxation of its ongoing strike against Tesla, allowing certain workshops to repair critically damaged Tesla vehicles from Feb. 19 to April 30. The exemption, however, will only apply to independent workshops impacted by the sympathy blockade, not Tesla's own service centers.
Rivian R2 Teaser: On Thursday, Irvine, California-based Rivian teased the global launch ...