Rankings of electrification component suppliers in China (Jan.–Jun. 2026): Automakers' in-house BMS solutions take six of the top 10 spots丨Gasgoo Automotive Research Institute

Rivian (RIVN) fell 6% after CFO Claire McDonough resigned to join GE Vernova (GEV), which dropped 3%. Lucid (LCID) slipped 1%, while Tesla (TSLA) held steady. McDonough secured a $5.8B Volkswagen investment for Rivian. The S&P 500 (SPY) rose 0.48%, isolating EV sector weakness.

Citizens analyst reiterated ratings on Tesla (Market Perform) and Uber (Market Outperform, $100 target). Nevada regulators granted permits for robotaxi services to Tesla, Uber, and Waymo. Tesla can operate up to 5,000 vehicles, while Uber and Waymo each have a 1,000-vehicle limit. Uber launched its first European autonomous robotaxi service in Zagreb. Investors await deployment progress and commercial scaling.

Ark Invest's ARK Innovation ETF, managed by Cathie Wood, allocated $1.4B to three AI-related stocks: Tesla (TSLA) with a $595M position and $2,600 price target by 2029, Tempus AI (TEM) with a $402M position, and SpaceX (SPCX) with a $378M position. The ETF has $6.42B in assets under management.

China announced a recall of 4.3 million vehicles, including Tesla, Xiaomi, and Leapmotor models, due to concerns about emergency door-release mechanisms. The recall follows China's new safety standards banning exterior electronic handles without manual mechanisms. Analysts note China's growing influence in global auto safety regulations, with Tesla potentially needing to redesign its door handles globally.

Tesla (TSLA) reported Q2 non-GAAP EPS of $0.33, missing estimates, with operating margin contracting to 1.4%. Net income rose 133.54% to $1.11B, but cash flow turned negative. The company lost a senior chip engineer amid AI chip development. TSLA's next earnings are expected to show a 29.73% YoY EPS decline. Analysts have a 'Moderate Buy' consensus with a $397.94 avg. price target.

Tesla (TSLA) has started producing its Optimus humanoid robot at the Fremont plant, repurposing space from Model S/X assembly. Elon Musk called it a challenging but high-potential project, with $25B+ planned spending. Meanwhile, Tesla discontinued its Solar Roof product, shifting focus to standard solar panels and storage solutions.