Rivian, Lucid, Ford, and GM warn tariffs and end of EV tax credits could hurt profitability.
They flagged the One Big Beautiful Bill Act (OBBBA) directly in their latest 10Q filings. OBBBA scraps key tax credits for EV buyers and cuts value from zero-emissions credits.
Lucid spelled out concerns about supplier risks: 
“If any of the Company’s suppliers, sub-suppliers or partners experience financial distress, insolvency or disruptions in operations, they may be unable to fulfill their obligations or meet the Company’s production and quality requirements.”
Rivian tried to put a positive spin, highlighting that the 45X tax credit for domestic battery production still stands. Meanwhile, GM said it can’t yet estimate OBBBA’s financial hit but warned it “could be material and may adversely affect electric vehicle profitability.”
Adding fuel to the fire: a new 100% import tariff on semiconductor chips looms. The chip shortage nightmare from the pandemic could return, but automakers don’t make chips themselves. They might have to source domestically to get tariff exemptions — details on those are still unclear.
This cocktail of trade policy uncertainty and credit cuts is setting the stage for a rough road ahead for EV makers.
Joby Aviation just acquired urban helicopter ride-share pioneer Blade for up to $125 million. The deal covers Blade’s passenger business in the US and Europe but excludes its medical unit. Blade CEO Rob Wiesenthal stays on to lead as a wholly owned Joby subsidiary.
The move gives Joby instant access to a network of 12 premium terminals in top hubs like JFK Airport, Newark, and Manhattan. This infrastructure is crucial as Joby preps for FAA Type Certification of its electric aircraft and commercial launch.
Blade had flirted with partnerships across eVTOL makers like Wisk, making this acquisition a solid strategic fit.
More deals:
- Swiss autopilot developer Daedalean is getting acquired by drone supplier Destinus for $223 million cash and stock. Destinus supports Ukraine militarily.
- India’s aerospace component maker Jeh Aerospace raised $11M Series A led by Elevation Capital and General Catalyst.
- Uzbekistan’s delivery and fintech startup Uzum landed $65.5M from Tencent, VR Capital, and FinSight Ventures.
Foxconn dumped its former GM EV factory and land for $88M plus sold EV machinery for $287M. The buyer, rumored to be SoftBank, plans to repurpose the site into an AI data center after EV production never scaled.
Lyft partnered with Baidu to launch Apollo Go robotaxis in Germany and the UK by 2026.
Rivian filed suit to sell EVs directly in Ohio, challenging laws favoring Tesla’s special exemption.
Tesla news keeps spinning:
- CEO Elon Musk’s $29B share-based compensation package got board approval, citing the “ever-intensifying AI talent war.”
- Tesla shut down its Dojo supercomputer chip project, ending in-house driverless chip efforts.
- A jury found Tesla partly liable for a 2019 fatal crash tied to Autopilot, fining $242.5M in damages. Plaintiffs argued Tesla overstated Autopilot’s actual capabilities.
Zoox cleared a federal hurdle with a safety exemption to showcase its custom robotaxis publicly. This ends a long debate over compliance with motor vehicle safety standards and probes into possible regulatory sidestepping.
Bedrock Robotics CEO Boris Sofman, ex-Waymo self-driving truck lead, guest starred on The Autonocast podcast to discuss his new autonomous vehicle tech startup.
Listen here: The Autonocast
TechCrunch event alert: Mark calendars for San Francisco, October 27-29, 2025.
Image Credits: Bryce Durbin
Image Credits: Bryce Durbin
Image Credits: Bryce Durbin
Image Credits: Bedrock Robotics
