This week’s EV News was dominated by Tesla’s third-quarter earnings, a shake-up in the US electric vehicle rankings, and a festival-season sales jump in India. If you only have a minute, the takeaways below cover it. The rest of this weekly EV news roundup explains what happened, why it matters, and what to watch next.
Tesla’s Q3 2026 Earnings: A Beat With Caveats
Tesla reported its third-quarter results on Wednesday, October 21, after the market closed. The headline numbers were better than many analysts feared, yet the reaction was lukewarm. CNBC reported adjusted earnings of 48 cents per share against about 43 cents expected, on revenue of roughly $28.05 billion. That revenue figure was essentially flat from a year earlier.
Where the money came from
The details matter more than the headline. Tesla’s core automotive revenue fell about 3% to $20.56 billion, and energy revenue dropped 16% to $2.88 billion. Services and other revenue was the bright spot, rising 33% to $4.61 billion. Electrek’s breakdown adds that automotive gross margin excluding regulatory credits recovered to above 18%, and that services gross profit hit a record $734 million on charging, insurance and parts.
The energy business showed a split picture. Storage deployments reached 13.7 GWh, the second-best quarter on record, and segment gross margin jumped to 33% from 20% in Q2. Even so, energy gross profit slipped year over year.
Profit pressure and the AI spending story
Operating income still fell sharply compared with last year, because spending on AI and the Optimus robot program grew faster than gross profit. Free cash flow dropped 62% from a year earlier to $1.53 billion, though that was far better than the large cash burn some analysts had modeled. Yahoo Finance noted that capital expenditure came in at about $4.73 billion, well below the roughly $7.96 billion analysts expected. Management said that money is going toward Optimus production lines, AI compute, the Cybercab ramp and the Terafab chip plant it is building with SpaceX.
How the stock reacted
Shares rose slightly in extended trading at first, then turned lower. By Thursday morning the stock was down nearly 5% before the opening bell, and analysts were split on what the quarter means. Bulls pointed to margin recovery and long-term autonomy and robotics bets. Skeptics focused on a car business that is still shrinking in revenue terms. For readers tracking Tesla specifically, our Tesla news hub keeps a running archive.
It is also worth remembering the comparison. Tesla delivered 486,532 vehicles in Q3, down 2.1% from the all-time record set in Q3 2025, when US buyers rushed to use the expiring $7,500 federal tax credit. A flat-revenue quarter without that credit is not a collapse, but it is not growth either.
Rivian Becomes the No. 2 Electric Vehicle Brand in the US
One of the more surprising pieces of EV news this week came from Cox Automotive’s Q3 sales report. Electrek reported on Tuesday that Rivian is now the second-largest electric vehicle brand in the United States, up from tenth place a year ago, taking the spot Chevrolet held earlier.
Why the ranking changed
The US EV market has been unusually volatile. Q3 2025 saw a surge as buyers rushed ahead of the federal tax credit expiring, and the months since have been a recovery from that pull-forward. According to the Cox data, almost every brand sold fewer EVs in Q3 than a year earlier. The exceptions were Mercedes, Lexus, Toyota, Subaru and Rivian. Tesla’s Model Y remains the best-selling EV in the country, although its sales also slipped year over year.
Rivian’s rise is less about a boom and more about a shrinking field. Many established automakers have cut EV output or cancelled models, so a brand that kept building them gained rank without needing to explode in volume. The new R2 crossover is the key product to watch: a premium all-wheel-drive trim starts around $53,990, while a cheaper rear-wheel-drive version is not expected until late 2027.
If you are comparing models before buying, see our guide to the best electric cars of 2026.
GM Pushes Ahead With a Next-Generation Electric Vehicle Program
General Motors told reporters at an event in New York on Wednesday that it is moving forward with an all-new electric vehicle program, even though its own electric vehicle sales have dropped sharply. Bloomberg’s report says the plan is expected to produce a new mainstream battery-powered SUV in roughly three years, with a focus on affordable models in high-volume segments.
The battery chemistry behind it
At the center of the strategy is lithium manganese-rich (LMR) battery chemistry. GM has said the technology can offer more driving range at lower cost than the cells in its current lineup. The cells are being developed with LG Energy Solution through the Ultium Cells joint venture, and GM has previously targeted 2028 for first use in larger vehicles such as full-size trucks and SUVs. Using more manganese and less nickel and cobalt is the main reason for the expected cost savings.
This matters because price is the single biggest barrier for many shoppers. A cheaper battery is the most direct way to lower the sticker price without cutting range. For a deeper explanation, read our primer on EV battery technology.
Mercedes GLC 400 Beats Its Range Estimate
Range anxiety remains a common concern, so real-world tests get attention. On Tuesday, Electrek highlighted an Edmunds test in which the 2027 Mercedes-Benz GLC 400 4Matic EV drove 392 miles on a single charge. According to the report, that is about 18% more than its EPA estimate of up to 331 miles.
The GLC 400 uses a 94 kWh battery and supports DC fast charging at up to 330 kW. Charging speeds were not part of the Edmunds test, so the result speaks to efficiency rather than how quickly the car refuels. Still, exceeding the official figure by this margin is a good sign for owners who plan long highway trips. Real range always varies with temperature, speed and driving style, so treat any single test as a guide rather than a guarantee.
India’s Festive Season Pushes Electric Vehicle Demand, but Supply Lags
Outside the US, the strongest demand signal in this week’s EV news came from India. Business Standard reported, citing Federation of Automobile Dealers Associations data released on Wednesday, that electric passenger vehicle sales during Navratri rose 26% to 12,305 units from 9,768 a year earlier. Higher petrol prices are a major reason shoppers are looking at electric options.
Two-wheelers are growing even faster: electric two-wheeler sales were reported up 89% from a year ago. The challenge is availability. Dealers say component constraints and rising bookings are making it hard to keep up, and Maruti Suzuki said its pending bookings across all segments grew from about 200,000 at the start of October to about 270,000.
For buyers, the practical advice is to book early and confirm delivery timelines before the festive window closes. Our India electric vehicle guide covers pricing, subsidies and charging options in more detail.
Europe and China: The Wider Context
Two policy stories broke just before this week’s window but shaped many conversations. On October 16, France and Germany agreed a joint position that would soften the EU’s 2035 combustion-engine phase-out in exchange for stricter “Made in Europe” rules. Euronews has the details. The European Parliament and EU governments still need to agree on how far to relax the 2035 target, so nothing is final yet.
In China, the weekly newsletter from Automotive World notes that Beijing has cut export tax rebates on new energy vehicles while September passenger vehicle retail sales fell sharply. Reported percentages differ between outlets, so check the original sources before quoting a specific figure. The same newsletter says BYD unveiled the Atto 8, its first European model with its fast “Flash Charging” technology.
Quick Hits: More EV News From Around the World
- BMW iX7: BMW’s first three-row electric SUV was spotted testing ahead of its official debut.
- LiveWire: The electric motorcycle maker plans its biggest lineup yet for the EICMA show in Milan next month, including two unseen models.
- Foxconn: It bought a roughly $727 million stake in a Mitsubishi Electric unit that makes EV parts, per Bloomberg’s feed.
- Charging: Planning a trip? Our EV charging guide explains connector types and fast-charging etiquette.
Why This Electric Vehicle News Matters for Buyers
Weekly electric vehicle news can feel like noise, but a few signals translate directly into buying decisions. Range results like the Mercedes test show that official numbers are often conservative, which helps when you compare each electric vehicle on a spreadsheet. Battery cost stories like GM’s LMR plan point to a cheaper electric vehicle arriving later this decade, so shoppers who can wait may see lower prices. Meanwhile, the Rivian ranking shows that a smaller catalog of well-reviewed models can beat a large lineup.
Policy matters too. In the US, the end of the federal credit means sticker price and financing now carry more weight, so check lease offers and state incentives. In India, strong festive demand means waiting lists, so a confirmed booking can matter more than a small discount. In Europe, the 2035 debate may change which models manufacturers prioritize. Following reliable EV news every week helps you spot those shifts early, and our EV news archive keeps past roundups in one place.
One practical habit is worth adopting: always check the date and region on any EV news story. Incentives, tariffs and prices differ by country, and a headline from last year may no longer apply. When a figure matters, open the original source, which is why every claim in this roundup links to its report.
What to Watch Next
Several threads will carry into next week. First, watch how analysts revise Tesla estimates now that the quarter is done, especially around capital spending and the Cybercab ramp. Second, other automakers will report earnings, which will show whether Rivian’s ranking gain reflects real momentum or a thinner market. Third, Brussels will keep negotiating the 2035 target, which affects every manufacturer selling in Europe.
The bigger pattern for the electric vehicle market is a split into regions. Demand is surging where fuel is expensive and policy is supportive, as in India and parts of Europe. It is more cautious in the US after incentives expired. Companies that can build a cheaper electric vehicle battery, like GM’s LMR plan, are positioning for the next phase. For more updates, return to our latest EV news page each week.
Electric Vehicle News FAQ
What was the biggest EV news this week?
Tesla’s Q3 2026 earnings were the largest story. The company beat profit estimates with 48 cents per share adjusted, but revenue was flat and shares fell afterward.
Which electric vehicle brand is No. 2 in the US?
Rivian, according to Cox Automotive’s Q3 data as reported by Electrek, up from tenth place a year earlier.
How far did the Mercedes GLC 400 go in testing?
Edmunds recorded 392 miles in a real-world test, about 18% above the EPA estimate of up to 331 miles.
Are electric vehicle sales rising in India?
Yes. Electric vehicle sales rose 26% during Navratri, and electric two-wheelers were reported up 89% year over year, though supply is limited.