Softer sales and the loss of tax credits will hurt this EV maker, says Guggenheim

Softer sales and the loss of tax credits will hurt this EV maker, says Guggenheim

It’s time to move to the sidelines when it comes to Rivian , according to Guggenheim. The investment firm downgraded the electric vehicle stock to neutral from buy. Analyst Ronald Jewsikow simultaneously removed his prior price target of $16 on the stock. One reason for the downgrade, Jewsikow said, was softer long-term sales assumptions of…

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Chinese brands are rapidly making inroads in Europe’s EV utopia

Chinese brands are rapidly making inroads in Europe’s EV utopia

Oslo Taxi’s NIO ET5 electric vehicle from Nio Inc, a Chinese multinational electric car manufacturer, drives through the Norwegian capital Oslo, on September 27, 2024. Jonathan Nackstrand | Afp | Getty Images OSLO, Norway — China is hoovering up market share in electric vehicle-friendly Norway, posing significant competition to Elon Musk’s Tesla and other Western…

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