Ross Gerber, co-founder of investment firm Gerber Kawasaki, issued a stern warning on Wednesday regarding the safety of Tesla Inc.'s (NASDAQ:TSLA) autonomous driving software.Gerber's comments come on the heels of a legal setback for the EV maker involving its Autopilot system.Mad Max's Safety ConcernsIn a post on Wednesday on X (formerly Twitter), Gerber addressed backlash from Tesla supporters while doubling down on his safety concerns."Tesla people seem triggered that I think it's a bad idea to have a se ...

Autonomous driving company Wayve has hit an $8.6 billion valuation after securing fresh funds from Nvidia, Microsoft and Uber.The $1.2 billion Series D round was led by Eclipse, Balderton and SoftBank Vision Fund 2 and also featured automakers Mercedes-Benz, Nissan and Stellantis.Uber will invest up to an additional $300 million in milestone-based capital."We are building for a total addressable market that spans every vehicle that moves," Alex Kendall, Wayve CEO, said in a statement."This investment accele ...

Pure-play EV maker Lucid (LCID) reported mixed fourth quarter results after the bell today, with its full-year losses widening as it boosts Gravity SUV production. The company did report upbeat 2026 production guidance and $4.6 billion in total liquidity. For the quarter, Lucid reported revenue of $522.7 million versus $459.4 million, per Bloomberg estimates, representing a 123% jump from a year ago, powered largely by the ramp-up of its Gravity SUV. However, Lucid posted an adjusted loss per share of $3 ...

Alphabet Inc.’s Waymo will start offering commercial robotaxi service in the three biggest cities in Texas, pushing ahead with its aggressive expansion plan after a recent setback in New York.The rollout of rides with no safety driver will begin Tuesday in Houston, Dallas and San Antonio, Waymo said in a statement. Operations will be initially be limited to zones of between 25 and 60 square miles (65 to 155 square kilometers), depending on the city. The debut advances Waymo’s goal of starting service this y ...

Just over five years ago, Luminar was seen as a leading developer of long-range lidar technology. In March 2020, Volvo Cars signed a framework purchase agreement with Luminar that officially designated the company as the sole provider of lidar technology for the automaker’s next-generation global vehicle platform. The deal helped Luminar gain the confidence of investors leading up to its high-profile November 2020 IPO.In addition to competition from China, the mass-market deployment of autonomous driving in ...

Core Viewpoint - Tesla's decision to discontinue the Model S and Model X is part of a strategic evolution towards a focus on autonomy rather than a retreat from the electric vehicle market [1][2]. Group 1: Production Decisions - The Model S and Model X are higher-cost models that do not significantly contribute to Tesla's sales, with only 4,000 units delivered in the last quarter, representing just 1.2% of total deliveries [4]. - The market is shifting towards lower-cost models, as evidenced by the decline in Model S/X sales and the production of more affordable versions of the Model 3 and Model Y [5]. - Tesla is reallocating production space at its Fremont factory, previously used for the S and X, to manufacture its Optimus robot as part of a $20 billion capital spending commitment by 2026 [6]. Group 2: Market Trends and Future Direction - The automotive industry is moving towards an autonomous future, with Tesla making gradual progress towards achieving autonomous robotaxis, unlike competitors who have struggled in this area [8]. - The cost dynamics of electric vehicles favor heavy usage, particularly in taxi applications, which will be enhanced by the introduction of dedicated robotaxi vehicles like the Cybercab [9]. - Discontinuing the Model S and Model X aligns with current market conditions and the overall direction of the EV market, marking a natural evolution in Tesla's business strategy [12].

A federal judge rejected Tesla’s request to overturn a $243 million jury verdict over the 2019 crash of an Autopilot-equipped Model S, which killed a 22-year-old woman and severely injured her boyfriend.In a decision made public on Friday, US District Judge Beth Bloom in Miami said the evidence at trial “more than supported” the August 2025 verdict, and Tesla raised no new arguments to set the verdict aside.Tesla, led by Elon Musk, is expected to appeal. Its lawyers did not immediately respond to requests f ...

Core Insights - Waymo has launched its sixth-generation driverless system for robotaxi rides, initially for employees in the San Francisco Bay Area and Los Angeles, with plans for public access later this year [2][3] Group 1: Technology and Fleet Expansion - The sixth-generation Waymo Driver utilizes more cost-effective parts and is designed to handle harsher weather conditions compared to previous versions, marking a significant upgrade in technology [2] - Waymo aims to extend its lead in the U.S. market by upgrading its driverless technology and expanding its fleet [2][3] - The new system will serve as the primary engine for Waymo's next phase of expansion [2] Group 2: Market Position and Competition - Waymo currently offers fully autonomous robotaxi services in six U.S. markets and plans to begin operations in London later this year [4] - Competitors such as Amazon-owned Zoox and Tesla are testing their driverless systems but have not yet launched widespread driverless ride-hailing services [4] - Chinese companies like Baidu-owned Apollo Go and WeRide are expanding internationally at a faster pace than Waymo [5] Group 3: Strategic Partnerships and Concerns - Waymo's decision to use vehicles from Chinese automaker Geely has raised concerns among GOP lawmakers regarding national security [5][6] - Waymo has assured that it will not share its autonomous driving technology or rider information with Geely's subsidiary, Zeekr, which provides the base vehicles [6] Group 4: Vehicle Specifications - The Ojai vehicle, which is part of Waymo's fleet, features a boxier design with a lower step and higher ceiling compared to existing models, while maintaining a similar footprint to the Jaguar I-PACE [8]

Financial Data and Key Metrics Changes - Quarterly revenue reached $9.2 billion, setting a new record for full-year revenue of $37.6 billion, up 4% from 2024 [4] - Adjusted diluted EPS was $6.74 for the quarter, with full-year adjusted EPS of $33.46, up 16% from 2024 [4] - Adjusted EBITDA was $364.1 million in Q4, an 8.9% decrease year-over-year, primarily driven by lower net income [19] Business Line Data and Key Metrics Changes - New vehicle revenue declined 6.6% on an 8.3% unit decline, with new vehicle GPU at $27.66, down $300 year-over-year [6] - Used retail performance showed 6.1% revenue growth, driven by 4.7% unit growth, with used GPU at $1,575, down $151 year-over-year [6] - After-sales revenue grew by 10.9%, with gross profit up 9.8% and a gross margin of 57.3% [8] Market Data and Key Metrics Changes - In the UK, same-store gross profit increased by 10% despite challenging market conditions, with adjusted pre-tax income for the UK up 53% for the full year compared to 2024 [9] - North American penetration for Driveway Finance Corporation reached 15% for the quarter, up 650 basis points [18] Company Strategy and Development Direction - The company is focused on maximizing shareholder return through disciplined capital deployment, including share repurchases and strategic acquisitions [11] - Technology investments, including partnerships with Pinewood AI, aim to enhance operational efficiency and customer experience [10] - The company targets $2-$4 billion of acquired revenue annually, balancing share valuation and acquisition prices to accelerate shareholder return [13] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment remains challenging, with year-over-year earnings pressure driven by margin compression and SG&A de-leverage [15] - The company is well-positioned to deliver compounding earnings growth in 2026 as industry conditions normalize [12] - Management expressed confidence in the resilience of their diversified model and the ability to adapt to changing market conditions [21] Other Important Information - The company repurchased 3.8% of its shares in the quarter and 11.4% of its shares in 2025 at an average price of $314 [20] - Inventory levels remain consistent, with new vehicle day supply at 54 days and used inventory at 40 days [7] Q&A Session Summary Question: Retention levels on the after-sales business - Management indicated retention is slightly up year-over-year, with service contract penetration at 37% [22] Question: Future cash generation and shareholder returns - Management emphasized the focus on share repurchases due to the current stock price being undervalued [24] Question: SG&A as a percentage of gross profit - Management noted that SG&A increased due to weaker sales performance and marketing expenses not materializing as expected [27][28] Question: Demand trends in Q1 - Management reported that trends in Q1 are similar to the last two months of Q4, with some weather impacts noted [31] Question: Used vehicle GPU pressures - Management acknowledged ongoing GPU pressures but highlighted efforts to improve pricing strategies [38][39] Question: After-sales growth drivers - Management attributed after-sales growth to improved customer relationships and the My Driveway portal facilitating better service [43] Question: Luxury vehicle market performance - Management noted a decline in luxury vehicle sales, particularly among brands like BMW and Porsche, but service and parts business remains strong [60]

Core Insights - The electric vehicle boom is transforming car manufacturing in America, with Rivian Automotive at the forefront, showcasing significant technological advancements and partnerships [1] - Rivian has achieved notable financial milestones, including a gross profit of $24 million in Q3 2025 and a 78% increase in sales year-over-year [4] Financial Performance - Rivian reported $1.56 billion in sales for Q3 2025, exceeding Wall Street's estimate of $1.46 billion, marking a substantial growth of 78% compared to the previous year [4] - The company experienced its second profitable quarter with a gross profit of $24 million, a significant recovery from a gross loss of $392 million the previous year [4] - Despite a loss of $0.65 per share in Q3 2025, this was better than the expected loss of $0.72 per share, indicating improved operational efficiency [4] Future Projections - Rivian's management has revised its delivery forecast for 2026 to between 66,000 and 68,000 vehicles, with revenue expected to grow from $5.4 billion in 2025 to over $6 billion in 2026 [5] - The adjusted EBITDA loss is projected to narrow to between $2 billion and $2.25 billion, reflecting ongoing improvements in financial performance [5] Market Sentiment - Wall Street analysts maintain a cautious but optimistic outlook on Rivian, with a consensus rating of "Hold" as they await the launch of the R2 SUV [6] - Out of 26 analysts, 9 recommend a "Buy," 13 suggest "Hold," and 4 advise "Sell," with an average price target of approximately $16.58, indicating potential upside [6] Legal Challenges - Rivian agreed to pay $250 million to settle a lawsuit from investors regarding undisclosed costs during its 2021 IPO, which previously led to a significant stock price drop [2]