Tesla Model 3 ‘Highland’ leak, Rivian loses bullish recommendation,…

Tesla Model 3 ‘Highland’ leak, Rivian loses bullish recommendation,…

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Electric vehicle stocks ended the week ended April 14 lower mostly on company-specific news and broader market weakness soft financials. market leader Tesla, Inc. TSLA didn’t change much as the weakness triggered by the first quarter numbers continued.

Here are the main events that took place in the EV space during the week:

Tesla’s price cuts, plans for India and more: Tesla announced further price cuts in several countries including Germany, Singapore, France and Israel. The series of price cuts comes amid a production ramp-up at the company’s Giga Berlin facility and follows another round of price cuts in the US

A leaked photo allegedly of Tesla’s Model 3 refresh (dubbed Project Highland) surfaced on Reddit and hit the media this week. The update is rumored to be out later this year or in 2024.

Changes appear to have been made at the front of the car, where there will be slit-like headlights and a simpler and more upright front fascia instead of the typically large headlight bezels and noticeably raked front bumper cover, car and driver reported. The front-end design is reminiscent of Tesla’s 2017 Roadster prototypes, the publication added.

Tesla, which has balked at settling in India because the government is reluctant to lower high tariffs on imported cars, could soon start making profits in the country. Optimism soared after Tesla CEO Elon Musk succeeded the Indian Prime Minister Narendra Modi on twitter.

Clear deliveries disappoint: Lucid Group, Inc. LCID reports this week Deliveries of 1,406 vehicles in the first quarter and a production of 2,314 vehicles. The numbers reflect a decrease from the company’s fourth-quarter numbers of 1,932 and 3,493 units, respectively. The company’s stock fell more than 6% in response to Friday’s news.

See also: The best stocks for electric vehicles

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