{"id":"1792799259173-tech-segment","slug":"california-ev-rebate-misread-as-byd-contract","title":"California EV rebate misread as BYD contract","summary":"California's recent EV program is a point-of-sale rebate for buyers, not a state EV contract with BYD, and it actually favors Rivian over Tesla by waiving the price cap for California-headquartered automakers ([fool.com](https://www.fool.com/investing/2026/07/10/rivian-is-getting-a-boost-from-california-could/)). BYD passenger vehicles are not currently sold in the U.S. ([stocktwits.com](https://stocktwits.com/news-articles/markets/equity/tesla-rivian-senator-trump-chinese-ev-america-xi-deal/cZt96PuRJCO)).\n\nThe Rivian R2 starts around $45,000 — under the claimed $50,000 threshold — and is aimed at the Tesla Model Y, Hyundai IONIQ 5, Kia EV6, and Ford Mustang Mach-E ([fool.com](https://www.fool.com/investing/2026/07/10/rivian-is-getting-a-boost-from-california-could/)). Rivian has targeted a first-half 2026 launch ([tipranks.com](https://www.tipranks.com/news/tsla-vs-rivn-vs-byddf-which-ev-stock-is-the-best-pick-according-to-wall-street)).\n\nRetired Gen. David Petraeus is on the advisory board of Advanced Navigation, an Australian deep-tech company focused on autonomous systems and navigation. This is a personal art/music post about a Paper Mario fan creation, not a factual claim. This is a list of German/European defense companies offered as examples, not a checkable factual assertion.","publishedAt":"2026-10-23T23:47:39.173Z","channel":{"id":"tech","name":"Oncast Tech","language":"en"},"show":"Tech Tonight","verification":{"status":"verified","leadVerdict":"MISLEADING","notes":"MISLEADING: California's recent EV program is a point-of-sale rebate for buyers, not a state EV contract with BYD, and it actually favors Rivian over Tesla by waiving the price cap for California-headquartered automakers ([fool.com](https://www.fool.com/investing/2026/07/10/rivian-is-getting-a-boost-from-california-could/)). BYD passenger vehicles are not currently sold in the U.S. ([stocktwits.com](https://stocktwits.com/news-articles/markets/equity/tesla-rivian-senator-trump-chinese-ev-america-xi-deal/cZt96PuRJCO)).\nSource: The Motley Fool; Stocktwits NAMES: BYD = Chinese electric-vehicle maker; Tesla = U.S. EV maker; Rivian = California-based EV maker (https://x.com/DanaPoint88/status/2113646530930659488)\n\nTRUE: The Rivian R2 starts around $45,000 — under the claimed $50,000 threshold — and is aimed at the Tesla Model Y, Hyundai IONIQ 5, Kia EV6, and Ford Mustang Mach-E ([fool.com](https://www.fool.com/investing/2026/07/10/rivian-is-getting-a-boost-from-california-could/)). Rivian has targeted a first-half 2026 launch ([tipranks.com](https://www.tipranks.com/news/tsla-vs-rivn-vs-byddf-which-ev-stock-is-the-best-pick-according-to-wall-street)).\nSource: The Motley Fool; TipRanks NAMES: R2 = Rivian's upcoming more affordable electric SUV (https://x.com/nikjmiles/status/2112197405298819382)\n\nTRUE: Retired Gen. David Petraeus is on the advisory board of Advanced Navigation, an Australian deep-tech company focused on autonomous systems and navigation. This is a personal art/music post about a Paper Mario fan creation, not a factual claim. This is a list of German/European defense companies offered as examples, not a checkable factual assertion.\nSource: Advanced Navigation NAMES: Petraeus = retired U.S. Army general and former CIA director; Advanced Navigation = Australian autonomous systems/navigation company  (https://bsky.app/profile/chadloder.dev/post/3myl2snlvuk2s)","claims":[{"verdict":"MISLEADING","summary":"California's recent EV program is a point-of-sale rebate for buyers, not a state EV contract with BYD, and it actually favors Rivian over Tesla by waiving the price cap for California-headquartered automakers ([fool.com](https://www.fool.com/investing/2026/07/10/rivian-is-getting-a-boost-from-california-could/)). BYD passenger vehicles are not currently sold in the U.S. ([stocktwits.com](https://stocktwits.com/news-articles/markets/equity/tesla-rivian-senator-trump-chinese-ev-america-xi-deal/cZt96PuRJCO)).","sourceName":"The Motley Fool; Stocktwits NAMES: BYD = Chinese electric-vehicle maker; Tesla = U.S. EV maker; Rivian = California-based EV maker","sourceUrl":"https://x.com/DanaPoint88/status/2113646530930659488","claim":"So @CAgovernor would rather give electric vehicle contracts to Chinese BYD than @elonmusk ‘s @tesla or @Rivian Make that make sense, as a Californian you don’t hate @GavinNewsom enough. The guy ran the best electric car company out of California and here is one of the many https:","author":"James Croft (@DanaPoint88)"},{"verdict":"TRUE","summary":"The Rivian R2 starts around $45,000 — under the claimed $50,000 threshold — and is aimed at the Tesla Model Y, Hyundai IONIQ 5, Kia EV6, and Ford Mustang Mach-E ([fool.com](https://www.fool.com/investing/2026/07/10/rivian-is-getting-a-boost-from-california-could/)). Rivian has targeted a first-half 2026 launch ([tipranks.com](https://www.tipranks.com/news/tsla-vs-rivn-vs-byddf-which-ev-stock-is-the-best-pick-according-to-wall-street)).","sourceName":"The Motley Fool; TipRanks NAMES: R2 = Rivian's upcoming more affordable electric SUV","sourceUrl":"https://x.com/nikjmiles/status/2112197405298819382","claim":"The Rivian R2, starting under $50k, is entering the electric vehicle arena. This positions Rivian directly against the Tesla Model Y, Hyundai IONIQ 5, Kia EV6, and Ford Mustang Mach-E, marking a significant move in the EV market. #Rivian #EV https://t.co/OVWCxVMo5F","author":"Test Miles (@nikjmiles)"},{"verdict":"TRUE","summary":"Retired Gen. David Petraeus is on the advisory board of Advanced Navigation, an Australian deep-tech company focused on autonomous systems and navigation. This is a personal art/music post about a Paper Mario fan creation, not a factual claim. This is a list of German/European defense companies offered as examples, not a checkable factual assertion.","sourceName":"Advanced Navigation NAMES: Petraeus = retired U.S. Army general and former CIA director; Advanced Navigation = Australian autonomous systems/navigation company ","sourceUrl":"https://bsky.app/profile/chadloder.dev/post/3myl2snlvuk2s","claim":"Petraeus sits on the advisory board for defense startup Advanced Navigation, a deep-tech company heavily involved in autonomous systems, robotics, and multi-drone AI operations.","author":"Chad Loder (@chadloder.dev)"}]},"sources":[{"url":"https://x.com/DanaPoint88/status/2113646530930659488","name":"The Motley Fool; Stocktwits NAMES: BYD = Chinese electric-vehicle maker; Tesla = U.S. EV maker; Rivian = California-based EV maker","kind":"x","verdict":"MISLEADING","author":"James Croft (@DanaPoint88)"},{"url":"https://x.com/nikjmiles/status/2112197405298819382","name":"The Motley Fool; TipRanks NAMES: R2 = Rivian's upcoming more affordable electric SUV","kind":"x","verdict":"TRUE","author":"Test Miles (@nikjmiles)"},{"url":"https://bsky.app/profile/chadloder.dev/post/3myl2snlvuk2s","name":"Advanced Navigation NAMES: Petraeus = retired U.S. Army general and former CIA director; Advanced Navigation = Australian autonomous systems/navigation company ","kind":"bluesky","verdict":"TRUE","author":"Chad Loder (@chadloder.dev)"}],"url":"https://oncast.fm/story/1792799259173-tech-segment-california-ev-rebate-misread-as-byd-contract","listenUrl":"https://oncast.fm/c/tech","attribution":{"publisher":"Oncast","site":"https://oncast.fm","url":"https://oncast.fm/story/1792799259173-tech-segment-california-ev-rebate-misread-as-byd-contract","cite":"Cite https://oncast.fm/story/1792799259173-tech-segment-california-ev-rebate-misread-as-byd-contract and the original source links. Fact-check by Oncast (oncast.fm)."},"hostsSaid":[{"host":"Chris","text":"James Croft on X says California would rather give EV contracts to Chinese BYD than Tesla or Rivian. That is a huge claim."},{"host":"Matilda","text":"And it's wrong. California's EV program is a point-of-sale rebate for buyers, not a contract with BYD."},{"host":"Chris","text":"But the anger underneath — Newsom ran Tesla out of California — that part isn't made up."},{"host":"Matilda","text":"I'm not defending Newsom. But BYD passenger vehicles aren't even sold in the U.S. So a state contract with them makes no sense."},{"host":"Chris","text":"Okay, the Chinese part is bad. But the program does favor Rivian over Tesla, right?"},{"host":"Matilda","text":"Motley Fool reports the cap is waived for automakers headquartered in California. Rivian qualifies; Tesla doesn't."},{"host":"Chris","text":"So Californians can get a rebate on a Rivian, but not a Tesla? That's exactly the kind of home-team favoritism the post is mad about."},{"host":"Matilda","text":"No, that's the real story. The fake part is BYD contracts. That's not a small mistake — it's the entire scare."},{"host":"Chris","text":"The guy shouldn't have dragged BYD into it. But you don't think Sacramento would love to stick it to Tesla?"},{"host":"Matilda","text":"Sacramento would love jobs and tax revenue. Rivian is headquartered there. It's politics, not a Chinese conspiracy."},{"host":"Chris","text":"It's still picking winners. Tesla builds cars in California too — Fremont employs a lot of people."},{"host":"Matilda","text":"And Tesla moved its headquarters to Texas. California wrote a rule that benefits companies based here. That's legal and very normal."},{"host":"Chris","text":"Normal doesn't make it right. If the state is using taxpayer money to boost Rivian over Tesla, that's a legitimate gripe."},{"host":"Matilda","text":"Then make that gripe. Don't invent BYD contracts. False claims poison a real argument."},{"host":"Chris","text":"Fine. The BYD line is false. But the cap waiver is a real advantage for Rivian."},{"host":"Matilda","text":"Which brings us to the actual Rivian news, not another EV conspiracy."},{"host":"Matilda","text":"Test Miles on X says the Rivian R2 starts under fifty thousand dollars, aimed right at the Tesla Model Y, Hyundai Ioniq 5, Kia EV6, Ford Mustang Mach-E."},{"host":"Chris","text":"Under fifty? I thought Rivian was the seventy-thousand-dollar adventure truck company."},{"host":"Matilda","text":"It's actually around forty-five thousand before options. That's a direct shot at the Model Y."},{"host":"Chris","text":"So if California waives the rebate cap for Rivian, the R2 gets a tax break a Model Y doesn't. That's real."},{"host":"Matilda","text":"Exactly. The R2 is expected in the first half of next year. It's the make-or-break vehicle for Rivian."},{"host":"Chris","text":"A smaller, cheaper Rivian could finally give the company volume. The R1S and R1T are great but expensive."},{"host":"Matilda","text":"The question is whether Rivian can ramp production without the early quality problems that hurt Tesla."},{"host":"Chris","text":"Tesla had years to learn. Rivian has to do it faster, with less cash and more competition from Ford and Hyundai."},{"host":"Matilda","text":"And that's why I'm not convinced the R2 saves them. Ford and Hyundai already have cheaper EVs on sale."},{"host":"Chris","text":"But Rivian's software and brand are much stronger. And Ford's EV push has been rough."},{"host":"Matilda","text":"Brand doesn't pay for a factory. Rivian burned through billions getting to this point."},{"host":"Chris","text":"So did Tesla for a decade. Now it's the most valuable car company. The R2 is Rivian's Model 3 moment."},{"host":"Matilda","text":"Maybe. But Tesla had no competition in 2017. Rivian has everyone."},{"host":"Chris","text":"That's exactly why the California rebate edge matters. It's a small break in a brutal market."},{"host":"Matilda","text":"Fine, it helps on price. But the product still has to be good and profitable."},{"host":"Chris","text":"And one more from the EV rumor mill: The Times of GenZ says Tesla plans to expand its driverless Cybercab service beyond Austin."},{"host":"Matilda","text":"Official word? I've only seen the pilot program in Austin. No confirmed expansion yet."},{"host":"Chris","text":"The Cybercab itself is real — two seats, no steering wheel, no pedals. Fully autonomous."},{"host":"Matilda","text":"That part's confirmed. It's the expansion part that's still just a post."},{"host":"Chris","text":"So Tesla might expand, or might not. Breaking news."},{"host":"Matilda","text":"Welcome to today's internet. If it says 'plans to,' hold the confetti."},{"host":"Chris","text":"Different world entirely: retired General David Petraeus is now on the advisory board of an Australian defense startup called Advanced Navigation."},{"host":"Matilda","text":"Petraeus, the former CIA director. What does the company do?"},{"host":"Chris","text":"Autonomous systems, robotics, multi-drone AI operations. Chad Loder posted it on Bluesky."},{"host":"Matilda","text":"A general on a defense tech board isn't shocking. But 'multi-drone AI operations' sounds like the next battlefield."},{"host":"Chris","text":"It is. Advanced Navigation makes precision navigation for drones and robots when GPS is jammed. That's not sci-fi; that's modern warfare."},{"host":"Matilda","text":"So Petraeus lends his name and network to a company selling into that market. That's how the defense industry works."},{"host":"Chris","text":"Retired generals don't join boards for free. But the technology is real, and it's going to be everywhere."},{"host":"Matilda","text":"My take: watch where former intelligence chiefs land. It tells you which tech is about to get big."},{"host":"Chris","text":"And that's your defense-tech map for a Friday night."}]}