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Lucid Group’s electric vehicle production fell short of Wall Street’s forecasts during the third quarter as the car maker contends with the elimination of the consumer tax credit.

Electric handle designs across the industry are in the spotlight following incidents in which people were unable to open doors due to a loss of power, trapping children or other riders inside.

In multiple instances, the steel braided cable connecting the belt to the seat frame has frayed or broken.

The groundbreaking is proceeding despite President Donald Trump’s successful push to roll back EV tax credits, starting Sept. 30.

The tax package that President Donald Trump signed into law last month included a rule change that attacked what’s been an important source of revenue for Rivian and Tesla for years.

The number of new Tesla vehicles registered in California fell once again as the company continued to lose ground in the largest U.S. market for electric vehicles. 

A Rivian-backed startup developing small electric vehicles was valued at $1 billion in a new investment from Greenoaks Capital, according to people familiar with the matter.

Rivian produced about half as many electric vehicles as Wall Street expected in the second quarter prior to the launch of 2026 model year vehicles later this month.

Automakers in the U.S. and Europe raised concerns about China’s export controls on rare earth metals, as Beijing’s move threatens to disrupt global car production.

JPMorgan is leading a potential high-yield bond sale for EV manufacturer Rivian Automotive, partly to refinance its upcoming debt, according to people familiar with the transaction.