Tesla, Inc. (TSLA)[Tv]

Key Developments

• Tesla secured landmark regulatory approval in Nevada allowing up to 5,000 robotaxis within one year, marking the first large-scale legal framework for autonomous vehicle deployment in the U.S. and positioning Tesla ahead of Waymo and Uber in real-world rollout potential.
• The company launched a public rollout of the steering wheel-less Cybercab in Austin, representing Tesla’s most aggressive bet on becoming a software-driven mobility platform, with real-world deployment expected to begin in select U.S. markets.
• Tesla reported second-quarter 2026 revenue of $28.24 billion—beating estimates by 25.5% YoY—but missed adjusted EPS by 34% and posted a record negative free cash flow of $1.09 billion, with operating margin collapsing to just 1.4%.
• China issued its largest-ever automotive recall—2.98 million vehicles—due to a fatal design flaw in electric door buttons, posing a life-threatening risk in crashes and exposing systemic safety failures in Tesla’s core growth market.
• The U.S. Patent and Trademark Office blocked Tesla’s bid to challenge IBM-derived patents via inter partes review, citing subjective, uncodified criteria, creating a systemic legal bottleneck that threatens the company’s Full Self-Driving (FSD) innovation timeline.