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Rivian (RIVN) surges while Lucid (LCID) dips following Q3 2023 results

Credit: Lucid Owners Forum

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Electric vehicle makers Rivian and Lucid have released their Q3 2023 results. The results and forecasts from Rivian and Lucid suggest that the two automakers are moving in very different directions. Investors appear to have seen the distinction, as hinted at by Rivian and Lucid’s stock on Wednesday’s pre-market. 

During its Q3 2023 earnings call, Rivian executives noted that a notable upgrade at its factories is expected to cut manufacturing costs moving forward. The company also noted that its dedicated electric delivery van would no longer be exclusive to Amazon. More importantly, Rivian noted that it was raising its production guidance for 2023 to 54,000 units, a slight increase from its previous estimate of 52,000. 

Rivian shares (RIVN) jumped 4.5% in after-hours trading, and as of writing, RIVN stock is up by as much as 8.9% on Wednesday’s pre-market. 

Lucid, on the other hand, reported falling third-quarter revenue and a wider net loss. The company also lowered its projection for vehicles this 2023 to just between 8,000 to 8,500 units, down from 10,000. It should be noted that even Lucid’s 10,000-vehicle estimate was already adjusted, as in February, the automaker initially estimated that it could produce up to 14,000 vehicles in 2023

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Lucid has stated that its forecast considers the vehicles that it could deliver for the rest of 2023. The company also stated that numerous Air sedans are going to government and retail customers in Saudi Arabia. Investors did not seem to receive the company’s updates well, however, as shares dropped 4.2% in after-hours trading. 

As of writing, Lucid shares (LCID) are down by as much as 4.88% in Wednesday’s pre-market. 

While both Rivian and Lucid are yet to reach profitability, the former appears to be showing more and more signs that its business is stabilizing. Rivian, after all, produces the R1T pickup truck, the R1S SUV, and electric delivery vans. Despite being a pickup truck that starts at a premium price of about $73,000, the Rivian R1T at least does not have a lot of competition right now. 

The Lucid Air, on the other hand, is a luxury sedan that still starts closer to $100,000. And while the Lucid Air is a critically acclaimed sedan, its segment is already filled with entries from pure EV makers and veteran carmakers alike, such as the Tesla Model S Plaid, the Porsche Taycan, and the Mercedes-Benz EQS. 

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Disclaimer: I do not hold RIVN or LCID shares.

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla plans for largest Australian Supercharger yet

The company has a 20-stall site in the city of Goulburn in New South Wales, which is an ideal location for trips between Sydney and Canberra, two major cities.

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Credit: Tesla

Tesla is planning to build its largest Supercharger in Australia yet, expanding on the infrastructure the company has built for electric vehicles.

The company has a 20-stall site in the city of Goulburn in New South Wales, which is an ideal location for trips between Sydney and Canberra, two major cities.

However, according to The Driven, a new Australian Supercharger is on the way, and it is going to be the biggest in the country, accounting for more than 25 stalls total. They will likely be V4 Superchargers, Tesla’s fastest piles that enable some serious range for cars that will plug in.

Tesla is operating 148 active Supercharger sites in Australia, with 80 of those being available to non-Tesla EVs as a part of the company’s initiative to make things accessible for all electric vehicle owners.

The expansion of Tesla Superchargers is welcome for all EV owners, especially as there are so many automakers that have access to the network. It is widely reliable and extremely dependable; it is tough to find a Supercharger location that is completely out of service.

The opening of the stalls will be welcome for the Tesla owners of Australia, especially as the Model Y continues to be a major contributor to the company’s prowess in the market.

Tesla’s sales performance in Australia showed a mixed but challenging picture in 2025, with the company delivering 28,856 new vehicles, marking a significant 24.8% decline from 38,347 units in 2024.

This represented the brand’s largest annual drop on record and the second consecutive year of decline, amid intensifying competition from Chinese EV makers like BYD and shifting buyer preferences toward SUVs. The Tesla Model Y remained a standout performer and Australia’s best-selling electric vehicle, with 22,239 deliveries, up 4.6percent year-over-year, accounting for about 77 percent of Tesla’s total sales.

The mid-year launch of the updated “Juniper” Model Y helped sustain momentum in the popular mid-size SUV segment.

In contrast, the Model 3 sedan struggled sharply, plummeting 61.3 percent to just 6,617 units, as consumers favored SUVs and faced growing options in the sedan category.

Despite the overall dip, Tesla held onto leadership in the EV segment, capturing roughly 28 percent of the BEV market. Australia’s EV market grew robustly, surpassing 156,000 sales and reaching 13 percent market share, up 38.7 percent from 2024, highlighting strong broader adoption even as Tesla faced headwinds.

Early 2026 data suggests a rebound, with EV sales nearly doubling year-over-year in February and the Model Y showing strong gains, positioning Tesla for potential recovery amid ongoing competition.

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Tesla Model Y L gets new entertainment feature

Beyond audio quality, Immersive Sound X aligns with Tesla’s ecosystem of over-the-air updates, potentially allowing future refinements.

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Credit: Tesla China

Tesla is including a new entertainment feature in the Model Y L, improving the vehicle even further and making it what appears to be the best configuration of the all-electric crossover globally.

Unfortunately, we in the U.S. do not yet have access to the vehicle, and the plans for it to enter the market remain up in the air, as CEO Elon Musk has said it could appear late this year. However, there is nothing concrete at this time.

Tesla’s latest enhancement to the Model Y L is a new Immersive Sound X feature, exclusive to the Model Y L.

It aims to transform the in-car listening experience into something truly cinematic. First introduced by Tesla China in October 2025, this advanced audio mode is now rolling out to deliveries in Australia and New Zealand, highlighting Tesla’s approach to region-specific premium upgrades.

At its core, Immersive Sound X leverages real-time sound extraction technology to create a customizable 3D soundstage. Using advanced algorithms, it analyzes audio tracks to separate direct sounds, such as vocals or lead instruments, from ambient elements like echoes and reverb.

The system then positions direct sounds front and center while diffusing ambient sounds to the side and rear speakers, simulating an expansive virtual environment. This results in a heightened sense of depth and spatial awareness, making listeners feel as if they’re in a concert hall or studio.

What sets Immersive Sound X apart from the standard Immersive Sound found in other Tesla models is its hardware dependency and enhanced processing. The Model Y L boasts an 18-speaker system with a subwoofer, compared to the 15-speaker setup, plus a subwoofer, in the Model Y Long Range’s previous premium audio configuration.

This upgrade provides more “kick” and precision, enabling finer control over the soundstage. Unlike traditional surround sound, which requires multi-channel mixes like Dolby Atmos, Immersive Sound X works with any stereo source from platforms like Spotify or Apple Music, so every owner will be able to use it.

Tesla Model Y lineup expansion signals an uncomfortable reality for consumers

You can fine-tune the experience via an adjustable immersion slider, scaling the “size” of the virtual space to personal preferences. This caters to a more custom sound.

An Auto mode intelligently adapts based on media type, whether it’s music, podcasts, or videos, ensuring optimal immersion without manual tweaks. This feature is unavailable on standard Model Y variants (with 7 or 15 speakers) or Model 3 trims, underscoring Tesla’s strategy to differentiate higher trims through superior hardware and software integration.

Beyond audio quality, Immersive Sound X aligns with Tesla’s ecosystem of over-the-air updates, potentially allowing future refinements.

For audiophiles and casual listeners alike, it elevates mundane commutes into immersive journeys, proving Tesla’s commitment to blending cutting-edge tech with user-centric design.

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Elon Musk teases crazy outlook for xAI against its competitors

Musk’s response was vintage hyperbole, designed to rally supporters and dismiss doubters, something his responses on social media often do.

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Credit: NVIDIA

Elon Musk has never been one to shy away from crazy timelines, massive expectations, and outrageous outlooks. However, his recent plans for xAI and where he believes it will end up compared to its competitors are sure to stimulate conversation.

In a bold and characteristic response on X, Elon Musk fired back at a recent analysis that positioned his AI venture, xAI, as lagging behind industry frontrunners.

The post, from March 14, came as a direct reply to forecaster Peter Wildeford’s assessment, which drew from benchmarks and reporting to rank AI developers.

Wildeford placed Anthropic, Google, and OpenAI in a virtual tie at the top, with xAI and Meta trailing by about seven months. Chinese players like Moonshot, Deepseek, zAI, and Alibaba were estimated to be nine months behind, while France’s Mistral lagged by about a year and a half.

Musk’s response was vintage hyperbole, designed to rally supporters and dismiss doubters, something his responses on social media often do.

He claimed xAI would “catch up this year,” meaning by the end of 2026, erasing that seven-month deficit against the leaders. But he didn’t stop there.

Musk escalated his vision to 2029, predicting xAI would “exceed them all by such a long distance” that observers would need the James Webb Space Telescope, NASA’s orbiting observatory stationed about 930,000 miles from Earth, to spot whoever lands in second place. This analogy underscores Musk’s confidence in xAI’s trajectory, implying an astronomical lead that could redefine the AI landscape.

Breaking down these claims reveals Musk’s strategic optimism. First, the short-term catch-up: xAI, launched in 2023, has already released models like Grok, but recent benchmarks, including those for Grok 4.2, have shown it falling short in capabilities compared to rivals.

Anthropic’s Claude series, Google’s Gemini, and OpenAI’s GPT models dominate in areas like reasoning, coding, and multimodal tasks. Musk’s assertion suggests aggressive scaling in compute, talent, or architecture, perhaps leveraging xAI’s ties to Tesla’s Dojo supercomputers or Musk’s vast resources, to close the gap swiftly.

The longer-term dominance by 2029 paints an even more audacious picture. Musk envisions xAI not just parity but supremacy, outpacing competitors in innovation speed and model sophistication.

This could involve breakthroughs in energy-efficient training, real-world integration, like Tesla’s robotics, or ethical AI alignment, aligning with Musk’s stated goal of “understanding the universe.”

Critics, however, point to parallels with Tesla’s Full Self-Driving delays; one reply highlighted Musk’s 2023 promise of FSD readiness. Musk has made this promise for many years, and although the system has been strong and improving, it is still a ways off from the completely autonomous operation that was expected by now.

Tesla Full Self-Driving v14.2.2.5 might be the most confusing release ever

Musk’s comment highlights the intensifying U.S.-centric AI race, with xAI challenging the “three-way” dominance noted by Wharton professor Ethan Mollick, whom Wildeford quoted. As geopolitical tensions rise—evident in the Chinese firms’ lag—Musk’s tease could spur investment and talent wars.

Yet, it also invites scrutiny: Will xAI deliver, or is this another telescope-needed mirage? In an industry where timelines slip but stakes soar, Musk’s words keep the spotlight on xAI’s ambitious path forward.

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