Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell.
From the hotly-debated high-flier Tesla (TSLA), Wall Street’s newest darling Rivian (RIVN), traditional-stalwarts turned EV-upstarts GM (GM) and Ford (F) to the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with “Charged,” a weekly recap of the top stories and expert calls in the sector.
CHINA-MADE EV SALES: Tesla sold 58,459 China-made electric vehicles in April, down 6% from last year, Reuters’ Qiaoyi Li, Zhang Yan, and Brenda Goh report, citing data from the China Passenger Car Association. Deliveries of locally made Model 3 and Model Y vehicles were down 25.8% from the previous month, the data show.
TRADEMARK APPLICATIONS: Tesla’s effort to trademark the term “Robotaxi” in reference to its vehicles has been refused by the U.S. Patent and Trademark Office for being too generic, but its application to trademark the term “Robotaxi” for its upcoming ride-hailing service is still under examination by the office, TechCrunch’s Sean O’Kane reports. Additionally, applications from Tesla for the trademark on the term “Cybercab” have been halted due to other companies pursuing similar “Cyber” trademarks, including a company that has applied for numerous trademarks related to aftermarket Cybertruck accessories, O’Kane writes. Tesla has three months to file a response to the USPTO or the office will abandon the application, according to the report.
TESLA FSD: Piper Sandler keeps an Overweight rating on Tesla with a $400 price target after hosting an investor call with Elias Martinez, creator of the FSD Community Tracker. Tesla’s full self-driving software is the largest contributor to Piper’s price target, the firm tells investors in a research note. After the call, Piper says it seems evident that Tesla’s current version 13 of its full self-driving software cannot support truly autonomous vehicles. However, it has been 4.5 months since Tesla unveiled version 13, and since then, no major updates have been released, the firm points out. During this period, Tesla has likely been focused on ensuring a safe launch in Austin, Piper believes.
Click here to check out Tesla’s recent Media Buzz Sentiment as measured by TipRanks.
RIVIAN RESULTS: Rivian Automotive reported Q1 losses per share of (48c), with consensus at (92c), and Q1 revenue $1.24B, with consensus at $1.02B. The company stated, “This quarter we hit our second consecutive gross profit and our highest gross profit to date at $206 million. We have continued to make significant progress on R2, including vehicle validation builds underway and our Normal, Illinois manufacturing facility expansion on track. Rivian has continued to make good progress on the development of R2. The company has begun design validation builds on its prototype line using majority production tooling. The 1.1 million sq. ft. manufacturing expansion in Normal, Illinois is progressing rapidly and on schedule. R2 production remains on track for the first half of 2026.
“While Rivian has 100 percent U.S. vehicle manufacturing and a majority of its bill of materials (excluding cells) coming from the U.S. or USMCA-qualified, Rivian is not immune to the impacts of the global trade and economic environment. The company’s guidance represents management’s current view on evolving trade regulation, policies, tariffs and the overall impact these items may have on consumer sentiment and demand. As a result of these impacts, Rivian has revised its delivery outlook to 40,000 to 46,000 vehicles. Due to its strong first quarter results, Rivian is maintaining its outlook range for adj. EBITDA of a $(1,700) million loss to a $(1,900) million loss. Rivian also continues to expect to achieve modest positive gross profit for the full year 2025. In addition, due to the expected impact from tariffs, the company is raising its capital expenditure guidance to $1,800 million to $1,900 million.”
LUCID RESULTS: Lucid Group (LCID) reported Q1 adjusted losses per share of (20c), with consensus at (23c), and Q1 revenue of $235M, with consensus at $246.16M. Produced 2,212 vehicles in Q1, excluding over 600 vehicles in transit to Saudi Arabia for factory gating; Delivered 3,109 vehicles in Q1; up 58.1% compared to Q1 2024. “We continued to build momentum in the first quarter as we achieved yet another delivery record, further strengthened our market position, and executed against operational priorities,” said Marc Winterhoff, Interim CEO at Lucid. “Lucid Gravity is beginning to arrive in more customers’ driveways and at our studios, and combined with our progress toward future initiatives, our company is well positioned for future success.” “We’re executing against our near-term goals – driving volume, improving margins, and operating with rigor,” said Taoufiq Boussaid, CFO at Lucid. “And we’re positioning ourselves for long-term value creation – with clear strategic priorities, strong liquidity, and breakthrough products that redefine their categories.”
EV SALES FALL: Sales of EVs fell by 5% in the U.S. in April while the broader car market grew by 10%, making this the third time monthly EV sales have declined since 2021, Ryan Felton of The Wall Street Journal reports. The declines were across most brands, which dealers said were due to several factors, including cooling customer interest and fewer promotions and discounts. Publicly traded companies in the EV space include Ford, GM, Rivian, Lucid, Nio (NIO), Xpeng (XPEV), Li Auto (LI), Nikola (NKLA), and Zeekr (ZK).
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