Tesla Inc's (NASDAQ: TSLA) latest vehicle, the Model Y, aims to take on one of America's bestselling vehicle segments: the crossover.While the initial offerings were the high-priced performance and all-wheel-drive variants, it looks like a lower cost option will be coming soon. This comes soon after Tesla recently dropped the price of the Model Y by $3,000.A new report from Electrek said Tesla has started making a lower-cost, rear-wheel-drive only version of the Model Y, citing unnamed sources familiar with the matter.This comes after a planned shutdown at Tesla's Fremont factory for Model Y general assembly line upgrades. The RWD version of the Model Y is expected to cost less than the AWD version, while also boasting more range, higher efficiency and a lower weight.Benzinga's Take: Tesla seems to be moving much faster to release multiple Model Y trims compared to when the Model 3 first launched.This shows Tesla has learned...
Nio Inc. is rising almost 6% in Monday’s pre-market trading, after the Chinese electric vehicle company said deliveries in July jumped 322% from the same month a year ago.The stock is currently advancing to $12.62 in pre-market trading as the car maker said it delivered 3,533 vehicles in July, representing 322.1% growth year-over-year. The deliveries consisted of 2,610 ES6s, Nio’s (NIO) 5-seater high-performance premium smart electric SUV, and 923 ES8s, its 6-seater and 7-seater flagship premium smart electric SUV. As of July 31, cumulative deliveries of the ES8 and the ES6 amounted to 49,615 vehicles.In the year through July 31, Nio delivered 17,702 vehicles, reflecting an increase of 111.3% year-on-year.“In July, we are pleased to have achieved the second-highest monthly delivery results despite the impact on productions due to a 5-day suspension of manufacturing to prepare for EC6 productions and other flood-related supply chain challenges,” said Nio CEO William Bin Li....
