AUSTIN, Texas, Oct. 16, 2026 /CNW/ -- Energy Metal News News Commentary - Global electric car sales grew 20% to exceed 20 million in 2025 and are expected to reach 23 million in 2026, representing 28% of total car sales, according to the International Energy Agency's Global EV Outlook 2026. The agency tied part of that momentum to the energy crisis resulting from the conflict in the Middle East, which has focused attention on oil imports, and estimated that the global EV fleet avoided the consumption of around 1.7 million barrels of oil per day in 2025. Active Companies from around the markets with current developments this week include: Tesla, Inc. (NASDAQ: TSLA), Rivian Automotive, Inc. (NASDAQ: RIVN), Lucid Group, Inc. (NASDAQ: LCID), General Motors Company (NYSE: GM), Albemarle Corporation (NYSE: ALB).
Sales accelerated through the middle of the year. Global EV sales jumped 35% in the second quarter from the first three months of 2026 and set quarterly records in 50 countries, Electrek reported, citing new IEA analysis. More than 90 countries recorded year-over-year EV sales growth in the first half.
The U.S. market is moving on a different track. Federal incentives of up to $7,500 were eliminated last year, and automakers reporting third quarter sales this month are lapping a quarter in which shoppers rushed to buy before the credit disappeared. The results have split the field between companies still adding volume and those cutting output or absorbing steep declines.
The supply chain behind those cars is concentrated. The IEA said China accounted for over 80% of battery cell production in 2025 and even higher shares of production of the active materials in EV batteries, which keeps the metals that go into batteries, motors and lightweight vehicle structures at the center of the industry's cost picture.
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In other industry developments and happenings in the market this week include:
Tesla, Inc. (NASDAQ: TSLA)
Tesla unveiled the next-generation Roadster on October 15 in Texas, nearly nine years after it first showed a prototype, and now says production starts in 2028, according to the Associated Press. Tesla lists three versions with claimed 0-60 mph times of under 1.6 seconds, under 0.9 seconds and under 0.59 seconds, and Electrek reported that the car is built with magnesium, titanium and carbon fiber to save weight. Reservations reopened with a $50,000 deposit for the Performance version; no prices were given.
Tesla's third quarter report showed production of 464,391 vehicles and deliveries of 486,532, a 2% decline from a year earlier according to Electrek, along with 13.7 GWh of energy storage deployments. Tesla will post its third quarter financial results after market close on Wednesday, October 21.
Rivian Automotive, Inc. (NASDAQ: RIVN)
Rivian set a quarterly sales record in the third quarter. The company reported that it produced 19,751 vehicles at its plant in Normal, Illinois and delivered 19,248, up roughly 45% from a year earlier, according to TechCrunch, and reaffirmed its 2026 delivery guidance of 65,000 to 70,000 vehicles.
It was the first full quarter of sales for the R2, the smaller SUV that launched in June at a starting price of just under $60,000, with cheaper versions expected to start around $45,000. Rivian will release third quarter financial results after market close on October 29.
Lucid Group, Inc. (NASDAQ: LCID)
Lucid moved in the opposite direction on output. The company reported third quarter production of 2,954 vehicles and deliveries of 3,806, with production lower sequentially after it eliminated a second shift at its AMP-1 factory in June. Deliveries exceeded production as Lucid worked down inventory as part of an operating reset targeting $1.4 billion in cash flow improvements in 2026.
The company said demand for the Lucid Gravity SUV continued to regain momentum. Lucid will report third quarter results on Monday, November 9.
General Motors Company (NYSE: GM)
GM's third quarter showed how hard the U.S. comparison has become. The company sold 670,974 vehicles in the U.S. in the quarter, down 5.5% from a year earlier, while its EV sales fell to 25,213 from 66,501, a decline of about 62%, according to GM Authority's tally of GM's delivery report. The Chevrolet Equinox EV fell 92.4% to 1,905 units.
The Cadillac Optiq was GM's best-selling EV in the quarter at 4,550 units, and the returning Chevrolet Bolt added 3,866. The year-earlier quarter was inflated by buyers racing to use federal incentives of up to $7,500 before they were eliminated.
Albemarle Corporation (NYSE: ALB)
For the lithium supplier, October has been a test of sentiment. On October 12, the most active lithium carbonate contract on the Guangzhou Futures Exchange fell 11.8% to 104,740 yuan per ton, its lowest level in nearly ten months, and Albemarle shares fell 4.2% in pre-market trading, according to GuruFocus. A day later, Mizuho upgraded the stock to Outperform with a $130 price target, citing surging energy storage demand.
The company's second quarter results showed net sales of $1.7 billion, up 31.1% from a year earlier, with Energy Storage net sales of $1.3 billion, up 77.9%, on sales volume of 65 kilotonnes of lithium carbonate equivalent, up 11.0%. Albemarle earned $3.52 per diluted share and will release third quarter results on Wednesday, November 4.
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