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Rivian Automotive Inc. is spinning out a business that will develop small electric vehicles designed for short trips.

Lucid Group will begin a search for a new CEO after it said its current leader, Peter Rawlinson, has stepped aside to serve in a strategic advisory role.

Rivian Automotive said its electric-vehicle deliveries this year will fall short of Wall Street estimates as potential policy shifts in Washington threaten to further dampen EV demand.

Rivian said it will sell its electric delivery van designed for Amazon to other customers, a move to boost revenue from fleet operators as consumer demand for battery-powered cars slows.

The Elon Musk-led company sold 1.79 million vehicles last year, it said Jan. 2, which was slightly less than what it delivered in 2023 and also below analysts’ consensus estimate.

Volkswagen and Rivian named leaders for their multibillion-dollar joint venture and showcased a prototype electric vehicle, signaling their commitment even as global EV demand softens.

Lucid Group Inc.’s electric vehicle production dropped in the third quarter and missed analysts’ forecasts, even as deliveries exceeded expectations.

Lucid Group will get a cash infusion of as much as $1.5 billion from an affiliate of Saudi Arabia’s Public Investment Fund, the second time this year the EV maker has received much-needed funding.

Tesla Inc. posted more than a dozen Autopilot and artificial intelligence positions, its first sign of workforce growth after weeks of rolling layoffs.

Austin-based trucking startup AI Fleet is betting that using artificial intelligence technology and focusing on drivers could help transform the trucking industry.