Elon Musk On California's EV Rebate Proposal, Tesla Dispute Settlements, And Rivian Powering Upcoming Volkswagen EV: This Week In EVs

Benzinga Neuro

December 01, 2024

This week was packed with significant developments in the electric vehicle sector, featuring major players like Elon Musk, Tesla Inc. (NASDAQ:TSLA), and Rivian Automotive Inc. (NASDAQ:RIVN). From legal battles to strategic partnerships, the industry saw a flurry of activity that could shape the future of EVs.

Let’s dive into the top stories that made headlines over the weekend.

Elon Musk Criticizes California’s EV Rebate Proposal

Elon Musk expressed strong disapproval of a new proposal from California Governor Gavin Newsom that could exclude Tesla vehicles from consumer rebates. The proposal aims to offer incentives for EV buyers if Donald Trump eliminates the federal $7,500 tax credit upon his return to the White House. Newsom’s plan reportedly includes “market-share limitations” that would disqualify Tesla’s popular models from receiving tax credits.

Read the full article here.

Tesla And Rivian Resolve Battery Tech Dispute

After nearly four years of legal wrangling, Tesla and Rivian are close to settling a lawsuit over alleged theft of battery technology. The dispute began in 2020 when Tesla accused Rivian of hiring former employees who took confidential engineering data with them. The case expanded to include claims of Rivian stealing core battery technology, eventually going to trial last year.

Read the full article here.

See Also: Aluminum Falls Short As Copper Substitute, Says Pacific Northwest Lab

Tesla Enhances Referral Program Amid Delivery Push

In a bid to meet its ambitious delivery target of 515,000 vehicles for the fourth quarter, Tesla has revamped its referral program across North America. The updated program offers increased discounts and rewards, with special incentives for the Cybertruck. These changes were announced through one of Tesla’s official accounts on X.

Read the full article here.

Volkswagen Partners with Rivian for Project Trinity

Volkswagen is collaborating with Rivian to power its upcoming flagship EV, known as “Project Trinity.” This partnership is part of a $5.8 billion joint venture to integrate Rivian’s advanced architecture into Volkswagen’s future models. Project Trinity, initially delayed, will feature Level 4 autonomous driving capabilities, allowing Volkswagen to focus on launching an electrified version of the Golf.

Read the full article here.

Tragic Tesla Cybertruck Crash in California

A Tesla Cybertruck crash in Piedmont, California, resulted in three fatalities and one serious injury. The vehicle reportedly caught fire after the crash, prompting a swift response from local authorities. Piedmont Police Chief Jeremy Bowers suggested that excessive speed might have contributed to the single-vehicle accident. A fellow attendee managed to rescue the surviving victim from the burning vehicle.

Read the full article here.

Read Next:

Dan Ives Compares Newsom Vs. Musk Battle To Jake Paul Vs. Tyson, Warns Of California’s Job Migration Risk To Texas

Photo courtesy: Tesla

This story was generated using Benzinga Neuro and edited by Ananya Gairola

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