The U.S. Department of Justice charged two Volkswagen engineers, Michael Stamp and Marcus Plank, with securities fraud for allegedly using confidential information about Volkswagen's joint venture with Rivian to make over $300,000 in illegal profits. They bought Rivian stock and options before the public announcement of the $5.8 billion joint venture, which caused Rivian's stock to jump 23%. Both were arrested and face up to 25 years in prison if convicted. This case highlights the DOJ's commitment to enforcing fair market practices and punishing insider trading.
Electric vehicle maker Rivian has acquired UK-based startup Third Dimension, which uses AI to create lifelike 3D worlds from images and videos. Rivian plans to use this technology to improve its advanced driver assistance and self-driving systems, pa...
Tesla's stock fell 4% despite beating earnings estimates due to a 42.7% profit decline, reduced capital spending, and a lowered vehicle sales target by CEO Elon Musk. The company also faces rising research costs for new technologies like autonomy and...
Tesla shares rose 4% following Elon Musk's endorsement of a potential merger between Tesla and SpaceX, though he emphasized that independent committees must approve any deal and no agreement is guaranteed. The merger idea adds a premium to Tesla stoc...
Rivian is focusing heavily on developing autonomous driving software, even if it means postponing profitability. CEO RJ Scaringe envisions autonomy enabling radically new vehicle designs beyond current SUVs and trucks, potentially transforming person...
Tesla shares rose 4% after Florida Governor Ron DeSantis promised to make Tesla's flying Roadster legal in the state. This pledge followed Tesla's recent demonstration of the Roadster's brief flight capabilities, boosting investor enthusiasm. Meanwhi...
