In an effort to reassure investors, Tesla has confirmed that it will indeed roll out a low-end model as part of its product plans. The announcement comes after a series of price cuts across its markets, with analysts emphasizing the importance of an affordable electric vehicle (EV) in boosting Tesla's sales. The new model's production start has been accelerated, moving it up from the previously stated "second-half of 2025." It will incorporate elements of both the next-generation platform and Tesla's current platforms, using existing production lines.

However, some skeptics have suggested that this announcement implies the absence of a sub-$30K car in the pipeline, potentially indicating a plan to reduce features in the current lineup. Despite the reaffirmation of the low-end model, Tesla reported a double-miss in its first-quarter earnings, underperforming in both earnings and revenue expectations. As a result, even bullish analysts have lowered their estimates for the company.

During the earnings call, Tesla also confirmed that the Tesla Semi, now exclusively being sold to PepsiCo., will be manufactured at a new factory in Reno, with deliveries to external customers expected to begin in early 2026. The departure of Tesla's Investor Relations Head Martin Viecha was also announced, as he expressed his intention to take a break and spend time with his family after a seven-year sprint.

In other EV news, Fisker, Inc., the beleaguered EV maker, is reportedly in talks with four automakers regarding a potential sale. CEO Henrik Fisker informed employees in an all-hands meeting that the company has signed nondisclosure agreements with these automakers, suggesting ongoing negotiations. This development follows Fisker's recent 10-K filing, in which the company expressed doubts about its ability to continue as a going concern due to insufficient available liquidity.

Meanwhile, Chinese EV startup BYD Co. Ltd., backed by Warren Buffett, has announced that its first energy pickup truck will be named the BYD Shark. Built on the DMO super hybrid off-road platform, the pickup will be positioned as a mid-size model and sold globally, surpassing the size of the Toyota Hilux.

VinFast Auto Ltd., the Vietnamese EV maker that entered the U.S. market in 2022, may receive an additional $1 billion investment from founder Pham Nhat Vuong. This financing commitment comes as VinFast faces intense competition and a slowdown in the EV industry.

In a move reminiscent of Tesla's strategy, Rivian is offering limited-period discounts of up to $5,000 on qualifying new R1 models for customers who trade in select gas-powered vehicles. Additionally, buyers will be eligible for a year of charging on the Rivian Adventure Network at no extra cost. This initiative aims to make Rivian's R1 lineup more affordable and attract customers to the brand.

Overall, the week has seen Tesla reassuring investors with its low-end model plans, Fisker engaging in potential sale discussions, BYD unveiling its pickup truck, VinFast receiving additional funding commitment, and Rivian adopting a Tesla-like approach to boost sales. As the EV industry continues to evolve, these major developments shape the landscape for electric mobility.