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

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

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

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

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

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

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

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