Tesla's Rollercoaster Week: Overcapacity, Price Cuts, and Stock Analysis

Tesla reported mixed Q1 results with concerns over profit gross margin, but CEO Elon Musk said the company could sell its cars at no profit in the short term and make up for it in the long term with its full self-driving software. Rivian's R1T and R1S vehicles will receive a $3,750 tax credit after submitting revised documentation, while Volkswagen's ID.4 EVs will be eligible for a $7,500 federal tax credit. Lordstown Motors resumed production and deliveries of its Endurance pickup truck and is evaluating a reverse stock split to meet the minimum bid price requirement. Toyota outlined a three-step strategy to boost productivity and profitability through 2030 via its lineup of EVs, while Fisker's Ocean SUV won the Red Dot Design Award for Best Electric Vehicle.