Last month, Claire McDonough, CFO of Rivian, said that the company is experiencing some relief on supply chain issues, which were concerns for the industry in the past few years. McDonough added that Rivian\u2019s Enduro production ramp is ahead of schedule and the company is seeing a \u201crobust backlog of preorders that extends into 2024.\u201d<\/p>\n
Meanwhile, Rivian\u2019s electric delivery vans made its debut in Europe to deliver\u00a0Amazon\u2019s packages across major cities in Germany. The e-commerce giant recently announced that more than 300 electric vans are set to hit the roads of Munich, Berlin and Dusseldorf in the coming weeks.<\/p>\n
Blink <\/strong>announced a strategic partnership with AAA. Per the terms, Blink will become a preferred supplier, extending its top-tier EV charging products and services to AAA service providers nationwide. This alliance builds upon their existing relationship and signifies a critical step in adapting to the rapid growth of EVs on American roads.The immediate impact of this partnership will be felt by 19 AAA clubs and their affiliates, encompassing more than 60,000 locations across the nation. Through a streamlined ordering process and preferential pricing options, these entities are set to experience substantial cost savings. With additional EV charging solutions at their disposal, AAA clubs hope to attract more drivers and increase their membership base.<\/p>\n The ultimate beneficiaries of this collaboration will be EV drivers. This collaboration, if executed well by AAA and Blink, can revolutionize the experience for EV drivers across the United States once the scale of operations reaches maturity.<\/p>\n With Blink\u2019s extensive product range, this partnership will equip roadside assistance providers with the necessary tools and skills to serve EVs more effectively. It aims to reassure EV drivers that their unique needs are anticipated and adequately catered to, thereby encouraging more drivers to transition to electric vehicles.<\/p>\n Nikola<\/strong>, a clean energy vehicle maker, secured a $41.9-million grant from the California Transportation Commission (CTC). The grant was awarded under the Trade Corridor Enhancement Program to help build six heavy-duty hydrogen refueling stations across Southern California, in partnership with the California Department of Transportation (Caltrans). This funding is expected to spur the development and adoption of zero-emission vehicle freight technology across the state. It aligns with California\u2019s Statewide Truck Parking Study, providing a safe place for truck drivers to park.<\/p>\n Apart from fostering environmental health, this project aims to reduce local noise pollution, facilitate refueling for 80-100 trucks per station per day and establish Nikola\u2019s zero-emission infrastructure ahead of the anticipated surge in the adoption of hydrogen fuel-cell electric vehicles.<\/p>\n Nikola is focused on promoting hydrogen fuel cell electric trucks as a sustainable alternative for heavy-duty transportation, prioritizing open-access stations. With the increasing adoption of this technology, Nikola is well-positioned to lead in the hydrogen fuel cell sector.<\/p>\n NIO<\/strong> delivered 10,707 vehicles in June, down 17.4% year over year. The deliveries included 6,383 premium smart electric SUVs and 4,324 premium smart electric sedans. NIO delivered 23,520 vehicles in the second quarter of 2023, down 6.1% year over year. Cumulative deliveries of NIO vehicles reached 344,117 as of Jun 30, 2023. On Jun 15, NIO launched ET5 Touring and started delivering it the next day. Year to date, the company has delivered 54,561 vehicles, up 7.3% year over year. Its monthly deliveries are up 15% from May\u2019s figure of 6,155 vehicles.<\/p>\n Meanwhile, NIO\u2019s peers XPeng and Li Auto delivered 8,620 and 32,575 vehicles, respectively, in June. XPeng delivered 23,205 vehicles in the second quarter of 2023, down 32.6% year over year.\u00a0Li Auto delivered 86,533 vehicles in the second quarter of 2023, up 201.6% year over year.<\/p>\n NIO currently carries a Zacks Rank #3 (Hold). You can see\u00a0the complete list of today\u2019s Zacks #1 Rank (Strong Buy) stocks here<\/strong>.<\/p>\n The following table shows the price movement of some of the major EV players over the last week and six-month period.<\/p>\n Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry.<\/p>\n 4 Oil Stocks with Massive Upsides<\/strong><\/p>\n Global demand for oil is through the roof\u2026 and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with \u201cblack gold.\u201d<\/p>\n Zacks Investment Research has just released an urgent special report to help you bank on this trend.<\/p>\n In Oil Market on Fire<\/em>, you\u2019ll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don\u2019t want to miss these recommendations.<\/p>\n Download your free report now to see them.<\/p>\n Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report<\/p>\n Tesla, Inc. (TSLA): Free Stock Analysis Report<\/p>\n Blink Charging Co. (BLNK): Free Stock Analysis Report<\/p>\n NIO Inc. (NIO): Free Stock Analysis Report<\/p>\n Nikola Corporation (NKLA): Free Stock Analysis Report<\/p>\n Rivian Automotive, Inc. (RIVN): Free Stock Analysis Report<\/p>\n To read this article on Zacks.com click here.<\/p>\n Sponsored: Find a Qualified Financial Advisor<\/b><\/p>\n Finding a qualified financial advisor doesn\u2019t have to be hard. SmartAsset\u2019s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you\u2019re ready to be matched with local advisors that can help you achieve your financial goals, get started now.<\/p>\nPrice Performance<\/h3>\n
![](\"https:\/\/staticx-tuner.zacks.com\/images\/articles\/charts\/74\/46770.jpg?v=894415152\")
\nImage Source: Zacks Investment Research<\/span><\/p>\nWhat\u2019s Next in the Space?<\/h3>\n