Elon Musk Says SpaceX and Tesla Will Beat Revenue Forecasts. History Says Otherwise.

Tesla and eight other automakers will recall 4.3 million vehicles in China due to concerns about emergency door-opening difficulties. The recalls involve software updates, warning labels, and improved door handle markings. Tesla's recall is the largest, affecting 2.98 million vehicles. Chinese regulators have increased oversight of the EV industry, with a ban on concealed door handles set for 2027. The cost of the recalls may be limited due to modern over-the-air updates.

Tesla held 50.5% of the U.S. EV market in Q2, down from 54.2% in Q1, according to Cox Automotive. Total U.S. EV sales fell 20%, while Tesla's sales declined 13% year-over-year. Globally, Tesla's deliveries rose 25% but lost market share in Europe and China. The company is also developing AI robots.

Tesla has begun high-volume production of its Semi electric truck at Nevada's Gigafactory 1. The company secured its largest order to date, 500 trucks, from Swedish firm Einride for US operations. Pricing starts at $260,000 for the Standard Range model. Details on European pricing and specs will be revealed at the IAA Transportation conference in September.

Walmart (WMT) reported earnings of $187.9B, beating estimates. Alibaba (BABA) reported $39.64B revenue, up 9% YoY, but missed earnings estimates. Amazon (AMZN) plans to expand Prime Air to 500 U.S. locations. PayPal (PYPL) is in talks for a potential buyout. NetEase (NTES) reported mixed Q2 results. Futu (FUTU) beat revenue estimates. Nokia (NOK) plans to cut most of its China workforce. Meta (META), Google (GOOG), and Snap (SNAP) won a legal reprieve. NVIDIA (NVDA) explores partnership with Reb

Tesla (TSLA) stock is poised for its best weekly gain since May, driven by progress in robotaxi and Cybercab production. Elon Musk announced Cybercab production has started, with robotaxis logging 380,000 unsupervised miles. Full Self-Driving (FSD) demand is rising, with nearly 1.5 million paid subscribers. However, Tesla is recalling 3 million vehicles in China for software-related issues. Investors seem focused on autonomy and robotics progress, with TSLA stock up 7% over the past year, tradin

Tesla plans to launch its Cybercab robotaxi in Austin, Texas, on September 3, per Teslarati. The vehicle, designed for autonomous driving, lacks a steering wheel or pedals. Tesla aims to sell it for under $30,000. The launch will showcase Tesla's autonomous driving tech, crucial for its future revenue and AI strategy.