Tesla China launches Model Y Performance variant at $54,975

Zhero and Tesla Energy, with H1 Holdings, agreed to develop 3 GWh of battery storage in Italy. The deal includes 200 MW of ready-to-build projects, supported by long-term purchase agreements. Tesla will supply Megapack batteries. Zhero is expanding its storage projects, totaling over 1.5 GW, and aims to become an owner and operator in the market.

Analysts at Barclays and Piper Sandler issued bearish calls on Fluence Energy (FLNC), citing a 66% stock decline since June. The company's shares are at a one-year low, according to MarketSurge, and were down 1% pre-market Thursday.

Tesla reported $1.11B Q2 net income, with $1.01B from an unrealized SpaceX gain. Operating income fell 57% YoY to $398M, margin shrank to 1.4%. Capital expenditures surged 142%, turning free cash flow negative. Grok AI now controls vehicle functions, but Optimus production details remain unclear. Market cap at $1.4T, heavily reliant on AI ventures.

Huawei unveiled its Kirin 9050 Pro chipset and Mate XT2 foldable smartphone, while Apple introduced its iPhone Duo. Huawei is involved in China's efforts to develop domestic semiconductor technology. Tesla faces challenges in China amid competition and regulatory hurdles. Intel, TSMC, and Samsung endorsed ASML's high NA EUV system for advanced chip production.

Tesla launched its Cybercab without a public event, steering wheel, or pedals, drawing federal scrutiny. The NHTSA is investigating its certification. The vehicle's two-seat design excludes families. Tesla's stock dropped 6% post-launch. According to the company, it has 45 Cybercabs registered in Texas.

Tesla (TSLA) launched its Cybercab robotaxi service, with Goldman Sachs maintaining a Neutral rating and $360 price target. The firm sees potential cost advantages but emphasizes software performance for scaling. Tesla claims 1M miles of unsupervised operations. Goldman highlights risks like slower EV demand and competition, while noting hedge fund interest has weakened.