Charged: EVs expected to face plummeting sales in U.S.

Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell.

From the hotly-debated high-flier Tesla (TSLA), Wall Street’s newest darling Rivian (RIVN), traditional-stalwarts turned EV-upstarts GM (GM) and Ford (F) to the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with “Charged,” a weekly recap of the top stories and expert calls in the sector.

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EV SALES: Following the demise of the $7,500 federal tax credit for EVs, sales of electric models are expected to plummet during the end of the year and remain sluggish, Neal Boudette of The New York Times reports. In preparation, automakers are slowing production of EVs, delaying or scrapping new models, and shifting resources into gas and hybrid vehicles. Companies in the space include Tesla, Rivian (RIVN), General Motors (GM), Ford (F), and Lucid (LCID).

AI AUTONOMOUS PATH: Wedbush raised the firm’s price target on Tesla to $600 from $500 and keeps an Outperform rating on the shares to reflect view that an accelerated AI path for the company is now on the horizon and investors are underestimating the transformation underway at the company. The firm believes Tesla is taking major steps in advancing its AI Revolution path with autonomous and robotics front and center heading into 2026 that will be a game changer and define Tesla’s future.

EUROPEAN SALES: BYD’s (BYDDF) sales in Europe tripled in August, the Wall Street Journal’s Mauro Orru reports. New-car registrations for BYD models, a reflection of sales, tripled on year to 9,130 vehicles across the EU last month, according to the European Automobile Manufacturers’ Association, an industry body also known as ACEA. When including the U.K., Iceland, Liechtenstein, Norway and Switzerland, sales more than tripled to 11,455 vehicles.

UPSIDE CATALYST WATCH: Citi raised the firm’s price target on Nio (NIO) to $8.60 from $8.10 and keeps a Buy rating on the shares. Citi also opened a “30-day upside catalyst watch” on Nio. The firm increased estimates for Nio reflect “strong” orders for the L90 and ES8. Catalysts for Nio shares include a pickup in China’s new energy vehicles, order upside, margins moving higher in Q3 and production ramps, Citi tells investors in a research note.