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- U.S. startup $Fisker Inc$ unveiled electric sport utility vehicles on Wednesday and claimed they would have higher driving ranges than $Tesla Inc$'s Model Y vehicles.With production of its Ocean electric SUVs planned for next November, Fisker is set to join peer $Lucid Group Inc$ in challenging Tesla's lead in battery technology.Automakers and battery manufacturers are racing to ramp up production and develop advanced electric-vehicle batteries - key components of EVs whose demand is expected

Tesla’s market cap surpassed the trillion-dollar mark, driven by a post-earnings rally that got a boost from the announcement of a 100,000-vehicle order from Hertz , which might not even happen.Even if it does come to pass, the Hertz order is a drop in the bucket of growth expectations baked into Tesla’s valuation. Tesla needs 155 Hertz-sized orders to justify the revenue expectations in its stock price. Put another way, the $1.2 trillion valuation implies Tesla owns 60%+ of the entire global p