EV race heats up as BYD lands 100K deal and Rivian surges on R2

BYD has secured a 100,000-vehicle export order from its newly operational factory in Brazil, with shipments split evenly between Argentina and Mexico, according to Executive Vice President Stella Li. Separately, Rivian shares rose Monday after TD Cowen upgraded the stock and raised its price target, as investors focused on the company's R2 mid-size SUV, which CEO RJ Scaringe has described as a “make-or-break product.