By Akash Sriram and Abhirup Roy (Reuters) -Rivian Automotive surpassed third-quarter revenue expectations on Tuesday, fueled by strong deliveries as U.S. consumers rushed to grab a federal tax incentive on electric vehicle purchases before its expiry. Shares of the Irvine, California-based company rose more than 4% after the bell. The company said last month it delivered 13,201 vehicles in the third quarter, up 32% from the year earlier, but lowered the mid point of its full-year forecast marginally to ...

Core Viewpoint - Rivian's stock (NASDAQ: RIVN) experienced an intraday drop of approximately 8% on Thursday, driven by increasing investor concerns regarding the expiration of the $7,500 federal electric vehicle (EV) tax credit [1] Company Summary - Rivian's stock performance is negatively impacted by investor anxiety over the potential loss of federal incentives for electric vehicle purchases [1] Industry Summary - The expiration of the $7,500 federal EV tax credit raises concerns within the electric vehicle industry, potentially affecting sales and market dynamics [1]

Core Points - Tesla shares experienced a decline of 2.6% in pre-market trading and up to 5% during the opening hour, attributed to tensions between CEO Elon Musk and President Trump [1] - The stock price fell to a low of $313.50, contributing to a total decrease of $37.20, or 10.47%, over the past five days [1] - Musk's opposition to Trump's proposal to eliminate the $7,500 federal electric vehicle tax credit poses a threat to Tesla and other EV manufacturers, as this incentive has been crucial for EV sales [2] Sales Performance - Tesla is facing challenges with declining foreign sales, particularly in China and Europe, which could exacerbate the company's difficulties [3] - Despite downturns in Europe and China, Tesla reported modest sales gains in Australia and Norway, with expectations for a rebound in U.K. sales in June [4] - Year-to-date, Tesla shares are down 17.21%, reflecting broader concerns about global EV demand [4]