Latest Developments in the EV Sector: Tesla, Rivian, General Motors, and Lucid Motors News Roundup

Rivian continues to impress with over 100,000 pre-orders for its upcoming R2 line, showcasing strong consumer interest Tesla also dominates headlines with multiple updates: CEO Elon Musk provided insights into their advanced driver-assist system (FSD 12.5) focusing initially on Model Y with Hardware 4.0, and hinted at potential surprises at the upcoming Robotaxi unveil Remarkably, Tesla's Cybertruck production rates have more than tripled, with profitability expected by year-end. Additionally, Tesla reported substantial financial results in Q2 2024 with earnings of $25.5 billion Despite obstacles, Tesla managed another profitable quarter, reiterated plans to build cheaper electric vehicles, and released a promising update on its 4680 battery cells In terms of self-driving technology, Elon Musk forecasts Tesla will achieve 'unsupervised' self-driving capabilities next year. Amidst all this, Tesla encountered a minor hiccup with a WWII bomb found near its Giga Berlin facility, leading to the evacuation of protesting treehouse dwellers Over at General Motors, there's a strategic pivot as the company suspends its Origin driverless vehicle to focus on the next-generation Bolt, indicating a shift towards more cost-effective development strategies in the autonomous vehicle space Simultaneously, a former Cruise CEO weighed in on this decision.

Lastly, Lucid Motors proudly showcased a pre-production unit of the Gravity SUV, marking a significant step forward in its expansion.