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Tesla delivered 480,126 vehicles in Q2 2026, exceeding Wall Street expectations and marking a 25% year-on-year increase. The Model 3 and Model Y led the deliveries, highlighting Tesla's strong market position.
The Trump administration has blocked Polestar, owned by Chinese automaker Geely, from selling new electric vehicles in the U.S. under the Connected Vehicle Rule. The move restricts Polestar's ability to launch new models and reflects broader geopolitical tensions in the automotive sector.
BMW has cut its full-year profit forecast for the automotive business, citing declining sales in China and increased competition from local EV makers. The company expects its EBIT margin to fall to 1-3% from a previous forecast of 4-6%.
European automakers are shifting focus to defence contracts as EV demand slows and military budgets rise. Ineos, Daimler, Renault, and Mercedes-Benz are leading the charge with new partnerships and dedicated defence brands.
Rivian has laid off hundreds of workers, less than 2% of its workforce, as it seeks to achieve profitability amid financial losses and increasing competition in the EV market.
