Michael Wayland

Rivian is increasing its delivery outlook to between 65,000 and 70,000 EVs, up from 62,000 to 67,000 units.

Ford Motor reported a 10.3% decline in its second-quarter U.S. new vehicle sales. The automaker said its pure EV sales fell by 40.7% during the quarter compared with a year earlier, while sales of its F-Series trucks, including the F-150, fell 11%. Ford noted that despite the declines, the F-Series...

Ford CEO Jim Farley told CNBC that the automaker has learned from its past quality and recall issues, which have hurt its earnings and stained its reputation.

The investment is expected to create 2,000 U.S. jobs at the facility, add a second vehicle assembly line and roughly double the size of the 2.7-million-square-foot plant by 2030, the automaker said.

Rivian in a public filing said it intended to grant underwriters an option for a period of 30 days to purchase up to an additional 11.25 million shares.

Stellantis said the Topolino is capable of going 19 mph, with an electric range of up to 46 miles.

Stellantis said it has opened ordering for its small Fiat Topolino electric vehicle in the U.S., starting at $13,995.

Rivian stock dropped over 10% during early trading after the electric vehicle maker announced a capital raise.

The trends in the used EV market are contrary to those of new all-electric vehicles, as many automakers reported sharp sales declines of electric vehicles during the second quarter.