According to observers, Tesla and Rivian's strong sales indicate a rise in interest in EVs.

The number of automobiles sold by Tesla and Rivian during the last quarter was not anticipated.

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In a sales update published on Sunday, Tesla stated that from April to June, it delivered roughly 466,000 vehicles.

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Rivian, a manufacturer of electric trucks, shipped 12,640 units within the same time frame.

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On Monday, the stock prices of the two companies increased by 6.9% and 17%, respectively.

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The industry-wide transition away from gas-powered cars is highlighted by the rising demand for electric vehicles.

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According to Ives, Tesla's blockbuster statistics represent a rise of about 83 percent from a year ago.

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more expensive electric automobiles were purchased than the firm could produce.

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Over that time, the company's stock price grew tenfold.

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