Tesla’s European FSD push stalls

Geely Holding Group is investing in Nio's battery swapping unit, Nio Power, with a 30% stake valued at approximately RMB16 billion. Nio's stock rose 3% to $3.67, while XPeng and Tesla shares declined. The deal provides a valuation reference for Nio Power and may expand its technology adoption.

JPMorgan cut Tesla's (TSLA) price target to $415 and lowered its Q3 delivery forecast to 482,000 vehicles, citing weakness in the U.S. and China. TSLA shares fell 0.5% in pre-market trading. Analysts have mixed Q3 delivery expectations, ranging from 435,000 to 475,000 vehicles. JPMorgan also reduced margin estimates due to higher costs and incentives.

Tesla has scaled up Optimus robot production to several hundred units per week, aiming for over 1,000 weekly by 2026, but faces challenges with hand assembly and precision. The company has reallocated resources from Model S/X production to Optimus, with most robots used internally for testing. Tesla plans to lease robots to commercial customers, according to The Information.

Tesla has begun high-volume production of its Semi electric truck, with deliveries starting soon. The long-range version offers 500 miles of range, while the standard version has 325 miles. Pricing is estimated at around $290,000. Tesla has secured orders for 2,500 trucks from companies like Microsoft and PepsiCo, according to the company.

JPMorgan lowered its price target on Tesla from $445 to $415, maintaining a neutral rating. The change reflects the bank's updated outlook on the electric vehicle manufacturer's stock performance.

Tesla's Semi electric truck has begun mass production after nearly a decade of delays, with deliveries starting this week. Key customers include PepsiCo, DHL, and US Foods. The vehicle boasts a 500-mile range under full load and 600 miles under lighter loads, with 15% lower energy consumption than initially targeted. Tesla's stock closed down 1.54% on Friday.