In the second quarter, Rivian's facility in Normal, Illinois produced 13,992 trucks and vans.

Tesla delivered a record 466,000 vehicles in the second quarter, an increase of 83.5% from the same period last year.

 With very strong results for the June quarter, Tesla and Rivian intensified the display.

In spite of many sceptics on Wall Street, production and demand for EVs are booming thanks to Tesla and Rivian, said Wedbush analyst Dan Ives.

In the first half of 2023, Tesla announced sales volumes that nearly doubled, selling 1.26 million vehicles in the six months ending in June.

The EV market is becoming more and more competitive, and rival companies are making an effort to overthrow Tesla's hegemony.

In contrast to the same quarter in 2022, when the rivian company provided 4,401 vehicles to consumers, the second quarter saw 12,640 vehicles delivered.

Prior to the Fourth of July vacation, shares of Rivian concluded Monday's short session in New York 17.4% higher, while Tesla gained 6.9%. In Hong Kong, BYD finished 4.5 percent higher.