The strong performance of both Tesla and Rivian resulted in significant stock price increases, with Tesla seeing a 6.9 percent jump and Rivian’s stock price surging by 17 percent on Monday. These results highlight the growing demand for electric vehicles and signify a shift away from gas-powered cars in the industry. According to a report by Washingtonpost.com, industry analysts have observed a notable trend of consumers gravitating towards electric vehicles. Wedbush senior analyst Dan Ives stated, “Consumers are not shying away from electric vehicles… in fact, it’s quite the opposite.” The increasing demand for electric vehicles is attributed to factors such as environmental consciousness and the technological advancements in electric car models. The latest sales results from Tesla and Rivian are just the beginning, as the electric vehicle market continues to expand.

Source: Washington Post July 04, 2023 16:37 UTC