While Lucid Group Inc (LCID  ) plugs into Uber Technologies Inc's (UBER  ) robotaxi dreams; and Rivian Automotive Inc (RIVN  ) expands its Amazon.com Inc (AMZN  ) delivery fleet - Tesla Inc (TSLA  ) remains the only profitable pure-play EV maker.

Uber Rides, But Lucid Waits

Lucid's splashy partnership with Uber and Nuro to deploy 20,000 autonomous SUVs by 2026 signals ambition. Throw in a $300 million investment from Uber, and it sounds like a futuristic jackpot. But with delivery years away, it's more promise than profit for now. Lucid's also betting on brand cachet, putting Timothée Chalamet in the driver's seat of its luxury image while supplying tech to Aston Martin.

Rivian's Delivery Route To Relevance

Rivian is riding real roads with Amazon.com Inc, supplying thousands of electric delivery vans. The exclusivity clause has lapsed, opening new revenue doors.

Add a $5.8 billion software JV with Volkswagen AG (VLKAF  ) and a battery deal with LG, and Rivian's hedging its bets on both mass-market scale and tech muscle. It's a solid strategy-but still deeply in cash burn mode.

Tesla's Doing Tesla Things

Meanwhile, Tesla quietly delivered over 400,000 vehicles last quarter, and is expanding its Supercharger empire-so successfully, Rivian and Lucid are both joining in.

While the others forge alliances to survive, Tesla's vertical integration and scale enable it to keep prices low and margins high, despite rising competition.