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Michael Burry says he isn't shorting Tesla
Renowned investor Michael Burry has said he is not shorting Tesla shares after the electricity vehicle (EV) maker published its delivery estimates. In a post to X, the Scion Asset Management founder responded to a user asking if he would bet against Tesla, saying, “I am not short.” Shorting is where an investor profits from the fall in the value of a stock by borrowing it, selling it and buying it later at a lower price. Burry is best known for betting against the U.S. housing market in 2008. In a Substack post, “The Big Short” investor said that Tesla is a “ridiculously overvalued stock” and wanted to say that “shorting it has been dangerous”. This came shortly after Tesla took the unusual step of publishing a lower-than-expected delivery outlook. The EV maker was also recently dethroned by BYD as the biggest EV seller. Tesla posted its second consecutive year of sales declines, falling to 1.64 million in 2025 from 1.79 million in 2024. Despite this, Tesla shares rose 12.30% for the whole year and notched an all-time closing high of US$489.88 after a collapse in first-quarter shares spurred on by competition and Musk’s political opinions. At the time of writing, Tesla (NASDAQ: TSLA) stocks were down 2.59%
EVs
Lucid SUV tops best car lists despite challenges
Lucid Motors' new SUV is already gaining traction as a top-performing, luxury electric SUV, but is facing a lack of demand in the market. Lucid, an Arizona-based electric vehicle maker, has a focus on high-tech, luxury cars, with its latest offering, the Gravity, looking to blend that with a family-friendly SUV, offering three rows of seats alongside its usual prestige design. But despite increasing production and being listed on the Car and Driver’s 10 Best List for 2026, Lucid has only managed to sell a few units of the Gravity this year so far, as the broader EV market is starting to slow down. The U.S. market has been hit with the loss of the $7500 federal tax credits for EVs, and Tesla also continues to dominate competition. Third quarter earnings for Lucid were a mixed bag, with impressive year-on-year increases for revenue growth and deliveries, but a lowered production guidance. The company said it also expects “a significant increase in deliveries” of the Gravity in the fourth quarter. The Gravity also got hit with its first safety recall this month, after a labelling mistake on back seat covers which could prevent side airbags from operating correctly. Approximately 66 vehicles were impacted, with al
EVs
Rivian doubles down on AI and custom chips
While United States electric vehicle (EV) manufacturer, Rivian Automotive (NASDAQ: RIVN) has taken a bold step into the next era of autonomous driving, unveiling its own custom AI chip, a fresh suite of self-driving software and long-term robotaxi ambitions, the market’s initial reaction was far from enthusiastic. Rivian used its first Autonomy and AI Day to outline a sweeping plan: replace Nvidia chips with an in-house processor, roll out a more affordable driver-assistance package, and eventually introduce Level 4 autonomous vehicles capable of operating without human input in certain conditions. CEO RJ Scaringe positioned the new chip as a multi-year commitment aimed at boosting performance while cutting costs by several hundred dollars per vehicle. That combination, he stressed, is “rare” in the industry. The custom silicon, manufactured by TSMC, uses multi-chip module packaging and delivers extremely high memory bandwidth, which is essential for real-time AI processing of data from cameras, radar and, soon, lidar sensors. But despite the technical promise, Rivian’s shares slid sharply during and after the event. The stock initially ticked upward when the chip was announced, but finished the day down more
EVs
EV maker Rivian pivoting to AI, affordable models
Electric car company Rivian plans to emphasise artificial intelligence and more affordable vehicles amid repeated losses and weakness in its share price. The company will host its first Autonomy and AI Day for investors tomorrow, where it could unveil its reported new AI assistant. It is also set to start production on its R2 SUV, which will be its cheapest vehicle. Rivian hopes for its EVs to be increasingly autonomous, according to CEO RJ Scaringe. “You can own a car, but it can drop you at the airport, it can pick your kids up from school, it can go get things from the store for you.” “We want all that to happen behind the scenes and all that to be powered through AI.” Rivian does not currently produce self-driving cars. Its chief software officer, Wassym Bensaid, said last year that it would target incremental experience improvements powered by AI rather than full self-driving abilities. It has been developing an AI assistant that it will integrate into its vehicles, TechCrunch reported. Rivian’s new US$45,000 R2 will launch in 2026, the company said. This will follow fellow EV maker Tesla, which revealed low-cost models of its Model 3 and Model Y cars in October. The company posted its first-ever gross pr
EVs
Beta revenue soars in first earnings since IPO
Electric aircraft maker Beta Technologies saw revenue more than double in its first earnings report since going public, though its net loss expanded. Revenue was US$8.92 million, up from $3.07 million one year ago. Its net loss per share was $9.83, compared with a loss of $1.81 last year, which it said was impacted by a loss when issuing convertible preferred stock. “It’s been an incredibly exciting time at BETA following our recent listing on the New York Stock Exchange last month,” said Beta CEO Kyle Clark. “As a newly public company, we remain firmly grounded in what makes BETA unique — our simple, stepwise approach, our vertical integration and our focus on designing and manufacturing the complete electric aviation ecosystem to meet the needs of customers around the world.” Product revenue was $2.92 million, up from $799 million, which the company credited to ahead-of-schedule motor deliveries. Service revenue climbed to $6 million from $2.27 million. Its loss from operations grew to $80.57 million, from a loss of $73 million last year. Operating expenses increased from $74.88 million to $86.75 million, driven by a rise in both administrative and research and development costs. Beta’s civil aircraft backlo

EVs
Beta to supply US$1bn in motors to air taxi maker Eve
Aircraft maker Beta Technologies will supply up to US$1 billion in electric motors to air taxi company Eve Air Mobility, leading to a surge in both companies’ share prices. Eve was started by Brazilian aerospace manufacturer Embraer in 2020. The first flights for its electric vertical takeoff and landing (eVTOL) aircraft are set for the end of 2025 or early 2026. “Integrating Beta Technologies into our supply chain is a pivotal milestone in advancing our eVTOL program,” said Eve CEO Johann Bordais. “Their electric motor technology will play a critical role in powering our aircraft during cruise, supporting the maturity of our propulsion architecture as we progress toward entry into service.” Beta is also developing electric aircraft, including eVTOL vehicles, and launched an initial public offering in November. Its first electric passenger flight was in June. Under the 10-year deal between Eve and Beta, Beta’s electric pusher motors will be added to both Eve’s prototypes and production aircraft. The companies have already completed a trial period where Eve tested the performance of these motors in its prototype aircraft. Eve has a backlog of 2,800 eVTOL orders, the company said. Its aircraft include an electric p
EVs
Australian EV sales soar to their highest level
Electric car sales reached record highs in Australia while internal combustion engine (ICE) sales dipped below 70% for the first time. The data from the Australian Automobile Association (AAA) showed that Battery electric vehicle (BEV) sales accounted for 9.7% of the market during the September quarter, up from 9.31% in the June quarter. While BEV sales have been steadily rising in market share, ICE vehicle shares have been dropping and fell to 69.65% during the September quarter, marking a dramatic decrease from 72.03% in the June quarter. The market share for ICE vehicles was even lower in NSW (68.74% and Victoria (68.04%). In the Australian Capital Territory petrol petrol-powered cars accounted for less than half of all new cars sold. Despite its decline, ICE remained the leading fuel type across all market sales, except in medium cars, where hybrids (40.70%) and BEVs (40.27%) dominated. Hybrids have also been on the rise, accounting for 16.52%, the second-highest total quarterly sales since the quarterly EV index was created in 2023. Medium SUVs remained the most popular vehicle segment for Australians, accounting for 26.06% of the market share in the September quarter. The Electric Vehicle Council’s head
EVs
Over 300,000 Jeep hybrids recalled for fire danger
Hundreds of thousands of Jeep SUVs have been recalled for fire danger after battery failures, with owners being urged to park the vehicles outside for safety. Stellantis, the parent company for 14 car brands including Jeep, issued the recall notice on Tuesday for plug-in-hybrid Jeep Wrangler and Grand Cherokee SUVs globally, after 19 reports of fires. The recall specifically covers some of the 2020 through 2025 Jeep Wrangler 4xe's and 2022 to 2026 Jeep Grand Cherokee 4xe SUVs. The recall covers some 2020 through 2025 Jeep Wrangler 4xe and 2022-2026 Jeep Grand Cherokee 4xe SUVs. The National Highway Traffic Safety Administration (NHTSA) reported that Stellantis had confirmed 19 fires and one injury linked to the issue, and while 320,000 of the recalled vehicles are in States, the total number affected is expected to sit at 375,000 globally. The batteries, produced by Samsung SD, are no strangers to recall notices An investigation by Stellantis and Samsung SDI determined that a fire earlier this year was caused by the same defect, also reported in a 2024 recall of 154,000 plug-in hybrid Jeep EVs, which at the time came as a result of two injury reports. The NHTSA confirmed that vehicles that were already repaire
EVs
Lucid to launch new autonomous EV with Nvidia
Lucid Group has announced plans for a new mid-size electric vehicle with self-driving capabilities and computer chips from Nvidia. The car will be a world first, as a consumer-owned Level 4 autonomous vehicle, described by Lucid as having “eyes-off, hands-off, mind-off” capabilities. It will be one of the closest vehicles on the market to fully automated, Level 5 technology and in terms of price and size, it is expected to sit just below the Lucid Air sedan, which ranges between US$71,400 and US$250,500. The Silicon Valley-based tech company plans to utilise sensors, cameras, radar and lidar for the self-driving system and will kick off their new generation of cars using Nvidia's DRIVE AGX Thor chips, which are expected to compete with the EV industry leader, Tesla. Lucid will also expand to using Nvidia's software tools in its factories to speed up production and increase quality. “Our vision is clear: to build the best vehicles on the market,” said Marc Winterhoff, Interim CEO of Lucid. “Now, we’re taking the next step by combining cutting-edge AI with Lucid’s engineering excellence to deliver the smartest and safest autonomous vehicles on the road."