Automobiles & Components

Tesla Inc. has begun replacing its "Full Self-Driving (Supervised)" branding with "Tesla Assisted Driving" across its European websites, following criticism from German officials that the FSD name was potentially misleading because the system still requires driver supervision. Tesla watcher Sawyer Merritt first flagged the live branding change on X on Oct. 8, and Not a Tesla App subsequently reported that Tesla had adopted the new name across the continent. Germany's Federal Ministry of Transport had said two days earlier that Transport Minister Steffen Bilger wants Tesla's system approved across Europe "in a timely manner," calling the FSD name "somewhat misleading" since the system does not take over the complete driving task and drivers must remain attentive. Tesla offered the rename during talks with German officials over technical and liability issues, Reuters reported, and CEO Elon Musk welcomed Germany's backing with "Danke Schön!" as the company's European approval push gained momentum. The approval remains contested: Reuters reported Germany supports allowing the system to operate up to 10% above detected speed limits, while France and Sweden objected, pushing an EU vote from October to at least December, and eight EU countries had approved the system by Wednesday, with Slovakia saying Thursday it expected to become the ninth within days.

Jinbei Automobile Co., Ltd. has entered the implementation stage for its 2026 interim equity distribution, paying a cash dividend of 0.01 yuan per share before tax. Based on total share capital of 1,304,558,558 shares, the total cash dividend amounts to 13,045,585.58 yuan. The record date is October 12, 2026, and both the ex-dividend date and the cash dividend payment date are October 13. This is Jinbei Auto's second cash payout to shareholders in 2026, following the 2025 annual equity distribution implemented in May, which paid 0.023 yuan per share before tax, totaling 30,004,846.83 yuan. Combined, the company's cumulative cash dividends for the year are approximately 43.05 million yuan, equivalent to 0.033 yuan per share. Based on the closing price of 3.58 yuan on October 9, the corresponding dividend yield is about 0.92 percent, with this interim dividend alone corresponding to a yield of about 0.28 percent. Jinbei Auto listed on the Shanghai Stock Exchange in 1992 and had never paid a cash dividend for more than thirty years after listing, earning it the nickname of a rare iron rooster among A-share companies. The turning point came in 2025, when the company used surplus reserves and capital reserves to make up accumulated losses, clearing the legal obstacles to dividends, and proposed a dividend plan for the first time in its 2025 annual report. In the first half of 2026, the company achieved operating revenue of 2.349 billion yuan, up about 10.2 percent year on year, while net profit attributable to shareholders of the listed company was 92.91 million yuan, down about 9.7 percent year on year. This interim dividend of 13.05 million yuan accounts for 14.04 percent of first-half net profit attributable to the parent company. The company's operating structure still has hidden concerns. The 2025 annual report shows that sales to the top five customers accounted for 90.23 percent of total revenue, of which sales to BMW Brilliance accounted for 83.78 percent, indicating extremely high customer concentration. From a market-wide perspective, Jinbei Auto is a microcosm of the expanding interim dividend ranks in the A-share market. The number of companies paying interim dividends in 2026 has hit another record high, with total proposed cash payouts exceeding 700 billion yuan.

Tesla delivered 95,366 China-made electric vehicles in September, a 5% increase from 90,812 vehicles a year earlier that extended its year-over-year growth streak to 11 consecutive months. The Shanghai factory shipped Model 3 and Model Y vehicles to China, Europe, Asia-Pacific and Canada during the month, according to Reuters, citing the China Passenger Car Association. Third-quarter deliveries from Shanghai rose 13.7%, even as Tesla's worldwide deliveries fell 2.1% from the record-setting quarter last year. To support demand in China, Tesla is offering promotions through October, with selected Model Y versions qualifying for a 7,000-yuan reduction on final payments and every Model 3 variant receiving 5,000 yuan off. The gains come amid intensifying competition in China, where Tesla's retail sales fell 12.4% year-over-year in August to 50,047 units, its weakest August since 2022, leaving it ranked fifth behind market leader BYD with 233,943 units.

QuantumScape announced the QS PowerBlock, a modular solid-state lithium-metal battery system for AI data centers that delivered four times the power density and five times the runtime of Open Compute Project Open Rack V3 benchmarks in controlled prototype testing. The system brings QuantumScape's solid-state cells into 800VDC, in-rack energy storage that exceeds key OCP specifications and targets 1 MW AI racks, positioning the technology directly inside the power architecture of next-generation data centers. The company has also joined the Open Compute Project, aligning the QS PowerBlock with OCP Open Rack V3 specifications and ecosystem partners, a move that could shape future customer billings and the pace at which its licensing model gains traction beyond autos. QuantumScape's narrative projects $242.3 million in revenue and $13.7 million in earnings by 2029, an earnings increase of about $418.7 million from -$405.0 million today, while more optimistic analysts project about US$335.6 million of revenue by 2029. The company still faces near-term execution risk around Eagle Line scale-up and converting development work into paid, recurring programs.

Chinese auto giant Geely Auto announced on the 9th that it will begin selling vehicles in Canada in 2027. Although Canada's market is smaller than that of the United States, Chinese manufacturers are showing interest in expanding their operations in Canada with an eye toward future entry into the U.S. market. The company did not disclose details such as the models it will sell in Canada or their price ranges, but said it is moving forward with establishing a local subsidiary and building a sales and service network. Geely Auto, a company under Zhejiang Geely Holding Group, operates brands including the mass-market Geely and the premium Zeekr, and is working to expand sales channels for electric and other electrified vehicles overseas, including in Europe.

The Goodyear Tire & Rubber Company announced the election of Joe Hinrichs as chairman of its Board of Directors, effective Oct. 7, 2026. Hinrichs, who joined the company's board in 2023, will also chair the board's Governance and Executive Committees. He succeeds Laurette Koellner, who will retire in accordance with Goodyear's Corporate Governance Guidelines at the company's 2027 annual meeting. Hinrichs most recently served as president and chief executive officer of CSX Corporation and previously held numerous leadership roles at Ford Motor Company, including president of the Global Automotive Business and chairman and chief executive officer of Ford China. Koellner, who previously held several leadership roles at The Boeing Company, was elected to the board in 2015, became independent Lead Director in 2019 and non-executive chairman of the Board in 2024.

Tesla has renamed its advanced driver assistance system in Europe to "Tesla Assisted Driving," dropping the "Full Self-Driving (Supervised)" branding after pushback from Germany's transportation ministry. Germany's transport minister, Steffen Bilger, said earlier this month that calling the software "Full Self-Driving" was somewhat misleading because it does not perform the entire task of driving, and after speaking with Tesla last month the company itself suggested the name change, according to an official release from the ministry. Bilger said he will now advocate for approval of Tesla Assisted Driving across Europe ahead of an EU-wide vote that could happen later this year, and Tesla CEO Elon Musk thanked him on X this week. The change marks a significant capitulation for Tesla, which had used the Full Self-Driving (Supervised) name for years even though the system requires humans to pay attention to the road and take over when necessary, and it could help the company achieve wider adoption on the continent and unlock a potentially massive new revenue stream. The rebrand follows a Reuters report on Wednesday that Tesla's campaign for European approval was built on faulty company safety research and flawed studies, and that the Dutch vehicle safety regulator, RDW, faced fierce pressure from Tesla and its online supporters; the Netherlands became the first European country to approve FSD (Supervised) in March. FSD has also been at the center of federal investigations and civil lawsuits over crashes in which it was allegedly in use, and Tesla discontinued its less capable predecessor, Autopilot, earlier this year after a judge ruled the company had engaged in deceptive marketing about the system's capabilities.

Stellantis CEO Antonio Filosa said Friday that the automaker's partnership with British startup Wayve could reduce development times and costs for advanced driver-assistance systems. Speaking alongside Wayve CEO Alex Kendall at the Wave technology event in Turin, Filosa said scale would be crucial to making hands-free driving affordable and speeding up adoption, pointing to level 2++ driving assistance technology that allows hands-off driving while still requiring driver supervision. He said cutting development timelines, currently around 24 months for Stellantis, was a key benefit of working with technology partners. Stellantis announced the partnership with Wayve in May to integrate the startup's AI-powered driving software into its STLA AutoDrive platform, with the first product launch targeted for 2028 in North America. Kendall said Stellantis' portfolio of brands, including Jeep, Fiat, Peugeot and Maserati, offered an opportunity to tailor autonomous driving characteristics across different vehicles while using the same underlying AI system, and at the Turin event the two companies demonstrated hands-free driving in Fiat 500e and Maserati Grecale development vehicles.

Honda will receive OEM supply of the Triton pickup truck, produced by Mitsubishi Motors at its factory in Thailand, it was learned on the 9th. Honda aims to begin sales in Southeast Asia as early as 2028, strengthening ties among three companies that include Nissan Motor, with which collaboration talks are underway. The Triton is one of Mitsubishi Motors' flagship models, known for its rugged build suited to rough roads and popular in emerging markets. Honda faces the challenge of reviving sales in the Southeast Asian market but does not have a pickup truck for that market, so by receiving OEM supply it hopes to expand its lineup while holding down development and production costs. For Mitsubishi Motors, the arrangement offers the advantage of raising the utilization rate of its Thai factory.

Honda will receive OEM supply of the pickup truck Triton, produced by Mitsubishi Motors at its Thai factory, it was learned on the 9th. Sales are set to begin in Southeast Asia as early as 2028, aiming to strengthen ties among three companies including Nissan Motor, with which collaboration talks are underway. The Triton is one of Mitsubishi Motors' flagship models, featuring rugged construction suited to rough roads, and is popular in emerging markets. Honda faces the challenge of recovering sales in the Southeast Asian market, but since it does not have a pickup truck for that market, it aims to expand its lineup while curbing development and production costs by receiving OEM supply. For Mitsubishi Motors, there is the advantage of raising the utilization rate of its Thai factory.

Slovakia is expected to approve Tesla's Full Self-Driving system, potentially making it the ninth European Union country to authorize the driver-assistance technology, according to Reuters. Transport Minister Jozef Raz said Slovakia would formally communicate its decision to the Netherlands, where the vehicle regulator RDW cleared Tesla's system earlier this year and acts as the primary regulatory authority for FSD in Europe. Raz said the decision was supported by data indicating lower accident rates, while emphasizing that drivers would remain responsible for their vehicles, and once the letter is delivered FSD would become available for use in Slovakia. The expected approval follows authorizations in countries including Belgium, Croatia, the Czech Republic, Slovenia, the Netherlands, Denmark and Estonia, and an EU-wide vote could take place as soon as December, potentially opening the door to broader deployment across the region. Wider FSD adoption could support software monetization through paid subscriptions and expand Tesla's addressable customer base, though competition is intensifying from General Motors' Super Cruise and Rivian's Autonomy+.

Tesla has secured an order for 50 all-electric Semi trucks from IMC Logistics, expanding its presence in the heavy-duty trucking market. The deal adds to growing commercial interest in Tesla's electric trucks as the company ramps up production and diversifies beyond passenger vehicles. The order follows Einride's planned deployment of 500 Tesla Semis, WattEV's order for 370 trucks and the ZET SCALE alliance's initial order for 2,500 electric Class 8 trucks, with Tesla selected as the primary manufacturer, though PACCAR's Kenworth and Volvo Group's Volvo are also on the supplier list. According to FreightWaves, the alliance, backed by shippers including Microsoft and PepsiCo, aims to expand its program to at least 10,000 trucks, and IMC will deploy its trucks for port drayage and freight routes connecting Southern California with inland destinations. Tesla's new Semi factory in Nevada opened in the last week of September, a 1.7-million-square-foot facility built to produce up to 50,000 trucks a year. The 50-truck order is unlikely to materially affect near-term revenue, and longer-term growth will depend on delivery execution, cost control and competitive operating economics.

Slovakia is expected to approve Tesla's advanced driver-assistance system, Full Self-Driving, within days. Transport Minister Jozef Ráž announced this in a video posted on LinkedIn on the afternoon of the 7th, making the country the ninth European Union member state to permit FSD. Ráž said data shows that vehicles equipped with FSD have a lower accident rate, which is exactly what we are aiming for. According to Ráž, Slovakia's Transport Ministry plans to send an approval notification to the Netherlands, and the Netherlands Vehicle Authority, known as RDW, approved FSD this year and plays a leading role in the approval process in Europe. Ráž urged citizens that once this notification is delivered, FSD will become available in our country as well, but they must not forget that the driver is still you, and responsibility for the car remains yours. Among EU member states, the Czech Republic, Slovenia, Denmark and others have also approved the use of FSD this year, and an EU-wide vote on whether to allow FSD could take place as early as December.

Deere and Yamaha Motor announced a collaboration to develop future Side by Side vehicles, pairing Deere's equipment expertise with Yamaha's powersports capabilities. The partners aim to co-develop new utility and recreational Side by Side models that could expand Deere's off-road vehicle lineup for rural and commercial users. At the same time, the Federal Trade Commission and US Department of Agriculture have increased scrutiny of the farm equipment market and Deere's role in it. Deere, a US machinery manufacturer with a market value of about $177.1b, builds and distributes equipment used across agriculture and other heavy industries worldwide. The company's next detailed update on Production & Precision Ag and Construction & Forestry in its fiscal 2027 commentary is a key checkpoint, particularly any quantified impact from the FTC and USDA inquiry or explicit Side by Side product timing and investment levels.

Toyota Motor announced on the 8th that it has signed a strategic partnership agreement with two major state-owned automakers with which it operates joint ventures in China, establishing a new three-company framework. Toyota currently runs separate joint ventures with China FAW Group and Guangzhou Automobile Group, but will restructure its equity arrangements. Under the restructuring, FAW's 50 percent stake in FAW Toyota is to be acquired by GAC, placing both joint ventures under GAC's umbrella and strengthening collaboration in research and development, procurement, production, and sales. FAW Toyota was established in 2000 and GAC Toyota in 2004; the move reviews a joint venture business in China spanning roughly a quarter century and aims to boost cost competitiveness. The signing ceremony for the new agreement was held in Guangzhou, China, on the 8th, with Toyota President Kenta Kon in attendance.

Jingwei Hirain announced on October 9 that as of September 30, 2026, the company had repurchased 850,000 shares, accounting for 0.7102% of total share capital, with a repurchase amount of 54.24 million yuan. The actual repurchase price range was 57.8 yuan to 69.94 yuan per share. In the first half of 2026, Jingwei Hirain achieved revenue of 2.623 billion yuan, with a net loss attributable to the parent company of 382 million yuan.

BYD said on its investor interaction platform on October 9 that current orders for flash-charging models are strong, and the company's top priority is to accelerate the capacity ramp-up of its second-generation Blade Battery, fully improve delivery capability, and safeguard consumers' car-buying experience. The company said product pricing is considered holistically across multiple factors including market competition, user demand, long-term brand strategy, and the pace of capacity release, and that product-related price information is subject to official announcements.

Haoneng Shares announced on October 9 that it plans to sign a joint venture contract with FAW Qixin Power Changchun Technology Co., Ltd. to jointly invest 70 million yuan in establishing a joint venture company. Haoneng Shares will subscribe 23.1 million yuan in cash, holding a 33% stake in the joint venture. The investment aims to deepen the company's layout in the new energy vehicle parts business and expand sales channels for automotive parts such as coaxial reducers. In the first half of 2026, Haoneng Shares achieved revenue of 1.495 billion yuan and net profit attributable to the parent company of 188 million yuan.

BYD said on its investor interaction platform on October 9 that orders for its flash-charging models are currently strong, and the company's top priority is to accelerate the capacity ramp-up of its second-generation Blade battery and fully improve delivery capability to safeguard the car-buying experience for consumers. The company said product pricing is considered comprehensively based on multiple factors including market competition, user demand, long-term brand strategy, and the pace of capacity release. For product price information, please refer to official announcements.

Toyota Motor announced on the 8th that it has signed a strategic partnership agreement with two major state-owned automakers with which it operates joint ventures in China, establishing a new three-company framework. Toyota currently runs separate joint ventures with China FAW Group and Guangzhou Automobile Group, but will restructure its equity arrangements. Under the restructuring, FAW's 50 percent stake in FAW Toyota is to be acquired by GAC, placing both joint ventures under GAC's umbrella as the companies strengthen coordination in research and development, procurement, production, and sales. FAW Toyota was established in 2000 and GAC Toyota in 2004, and the move reviews a joint venture business in China spanning roughly a quarter century to boost cost competitiveness. The signing ceremony for the new agreement was held in Guangzhou, China, on the 8th, with Toyota President Kenta Kon in attendance.

Tesla delivered 486,532 vehicles in the third quarter, comfortably above company-compiled consensus of 461,974 and down only 2% from a year earlier, strengthening the case that the company could return to annual delivery growth after two years of declines. The automotive recovery still matters because cars remain Tesla's largest revenue source, with European registrations up 43% during the first eight months of 2026, helping offset weaker U.S. demand following the loss of the $7,500 federal EV tax credit. Tesla's Q2 numbers showed why volume alone is insufficient: revenue reached $28.24 billion, but gross margin fell to 16.8% from 17.2%, while free cash flow turned negative by $1.1 billion and capital expenditures jumped 142% to $5.79 billion as Tesla funded AI infrastructure, robotaxis, and next-generation manufacturing. Tesla recently secured $30 billion of new credit facilities and expects 2026 capital spending above $25 billion, although the facilities were undrawn and the company did not plan to use them in 2026. Goldman Sachs kept a Neutral rating and $360 target on October 6, arguing that Tesla's physical-AI businesses, including robotaxis, FSD, and humanoids, will matter more for the stock than Q3 EPS, while consensus P/E falls from 217.93 times estimated 2026 earnings to 176.66 times in 2027 and 117.20 times in 2028 before dropping to 58.28 times in 2029.

Stellantis is allocating $1.16 billion to capacity improvements across its European manufacturing operations, a sub-component of its broader €60 billion five-year strategic investment program, as it pursues roughly €6 billion in annual cost savings by 2028. The spending will cover research and development capabilities and manufacturing processes currently outsourced, supporting the company's multi-energy roadmap across electric and hybrid segments. Stellantis is also negotiating with China's JAC Group and Huawei for a long-term industrial collaboration around the Maserati brand, potentially developing a vehicle branded as Maserati internationally and Maextro in China, with plans for an extended-range Jeep Grand Wagoneer followed by a Ram 1500 REV. The automaker's shares have fallen almost 60% year-to-date in 2026, with a market capitalization of approximately $13.4 billion as of October 7 and a forward P/E ratio of approximately 5.19x, while it generated €1 billion in positive industrial free cash flow in Q2 2026 even as cash flow remained negative for the first half. Hedge fund holdings in the stock fell to 26 by the end of the second quarter of 2026 from 32 in the previous quarter, with Bpifrance SA the largest institutional investor at 192.7 million shares, or 6.10% of outstanding shares.

Tesla and SpaceX have committed an initial $16.8 billion to Terafab, Elon Musk's plan to build one of the world's largest chip-making complexes in Grimes County, Texas, covering more than 100 million square feet and expected to start manufacturing chips by 2029. Intel Corp. joined the project in April, committing to design, make and package chips, and Musk has said the plant will use Intel's next-generation 14A process, a significant boost for an Intel foundry business that lost more than $10 billion at the operating level in 2025. Musk shut down speculation that Taiwan Semiconductor would help run the Texas plants, writing on X that Tesla and SpaceX will build and run the fab themselves, with TSMC at most given leased space inside the complex. The vertically integrated facility is designed to handle chip manufacturing, packaging and testing under one roof, with chips mostly built for edge computing and inference to power Tesla's Optimus robots and Cybercabs along with high-performance processors for SpaceX's planned space-based data centers. Investors positioned for the buildout could look to chip equipment makers such as ASML Holding, Applied Materials, Lam Research and KLA Corp, packaging and testing players including Amkor Technology, ASE Technology and Teradyne, materials and utilities suppliers such as Linde and Entegris, power and electrical infrastructure names including Eaton, Vertiv, Quanta Services and GE Vernova, or semiconductor ETFs such as the VanEck Semiconductor ETF and iShares Semiconductor ETF.

Bernstein upgraded tyre maker Continental AG to "outperform" from "Market-Perform" and raised its price target to €82 from €74, calling it its "top pick" in the tyre industry and citing a valuation discount to rivals after planned asset sales. After those deals, Continental trades on 7.3 times enterprise value to operating profit, against 7.4 for Pirelli and 8.0 for Michelin, Bernstein said. Bloomberg data shows Continental at a 10% premium to Michelin, but Bernstein's own calculation, which includes the €250 million MyCar disposal in Australia, shows a discount of about 10%, and the broker expects the gap to close within six months. Bernstein said part of the upside comes from the €4 billion sale of ContiTech to Lone StarFunds, aimed to close by the end of 2026, arguing the market does not fully understand how the sale price translates into the €3.1 billion in cash proceeds the company has guided to. Of that €3.1 billion, Continental will return €2.5 billion to shareholders in 2027, which combined with the ordinary dividend is a cash return yield of about 20%, compared with about 7% for peers. Bernstein forecasts a tyre adjusted EBIT margin of 14.4% for the third quarter against a consensus of 13.5%, and is 4% ahead of consensus for the second half of 2026 and for full-year 2027.

Finansia Securities said STA is expected to post a net profit of about 850-900 million baht in 3Q26, swinging from a loss in 3Q25 and potentially holding steady from the previous quarter, better than its earlier expectation of a decline. Sales volumes in the natural rubber business may beat expectations because Indonesia entered its rubber-tapping off-season in September and delayed deliveries to customers more than usual, prompting customers to buy from STA instead. Sales volume in 3Q26 is expected at 340,000 tonnes, above management's earlier view of about 320,000 tonnes, with an average selling price of USD2,275 per tonne, up 5.5% quarter-on-quarter and 23.2% year-on-year. Rubber prices rose to a 13-year high, recently at 258-260 US cents per kilogram. Finansia therefore raised its 2026-27 normalized profit forecasts by 14.5-26.4% to 3.23 billion baht and 2.83 billion baht, and lifted its target price to 27 baht from a target PBV of 0.85x, maintaining a buy recommendation.

XPENG has officially named its Robotaxi brand XPENG YOYO and opened autonomous driving online registration to the public in China through invitation codes, with a dedicated page live on the company's official website. XPENG Robotaxi is China's first fully in-house developed Robotaxi to achieve pre-loaded mass production, and the company said the move marks the transition from technical validation into a new stage of marketization and industrialization. Each vehicle carries four in-house Turing AI chips delivering 3,000 TOPS, which XPENG calls the world's highest in-vehicle compute, and runs on its VLA2.0 large model without HD maps or LiDAR. The English name was chosen for global brand recognition, and Chairman and CEO He Xiaopeng said XPENG positions its Robotaxi as a technology provider and ecosystem enabler, generating revenue through hardware sales, services, and commission sharing while entrusting offline operations to global partners. In May 2026 the mass-produced Robotaxi rolled off the production line in Guangzhou, in July it completed the full chain from online ride-hailing to automated pickup and drop-off, and in August XPENG obtained Guangzhou's remote testing qualification for intelligent connected vehicles on Class I, II, and III test roads. XPENG had previously launched paid internal testing at just 1 renminbi per ride to validate the payment process and service workflow.

Gentherm declared a US$63,500,492 special cash dividend in October 2026, equal to US$2.07 per share, and appointed former Ford Chief Technical Officer Paul Mascarenas to its Board and Technology Committee. The company also named Katrin Schatz as Interim President of Modine Performance Technologies, a division of Gentherm. The one-time US$2.07 per-share payout sits alongside an ongoing buyback program and modest recent earnings, raising questions about how Gentherm balances capital returns with funding its push into adjacent markets such as commercial vehicles and motion furniture. The company's narrative projects US$2.2 billion in revenue and US$161.7 million in earnings by 2029, while the most cautious analysts see only about US$1.8 billion of revenue and US$108.7 million of earnings by that year.

Nissan Motor announced on the 8th that it will roll out its pickup truck "Frontier Pro," produced at its Chinese joint venture, to markets in Mexico, the Philippines, the Middle East, and Latin America excluding Mexico on a phased basis between this month and the end of the year. In 2027, it will also launch the model in Australia and New Zealand as the "Navara Pro." The model is designed, developed, and produced by the joint venture Zhengzhou Nissan Automobile, making it the company's first model developed and manufactured in China for export to global markets. The aim is to strengthen its global product lineup while reflecting the needs of each market in product development, and starting with this model, the company said it will leverage China's strengths to offer highly competitive products in each market.

Tesla reported third-quarter 2026 output of over 464,000 vehicles, deliveries above 486,000, and 13.7 GWh of deployed energy storage, while arranging US$30.00 billion in new unsecured credit facilities and term loans. Elon Musk confirmed that Tesla and SpaceX will build and operate the Terafab AI chip complex in Texas, with technology support from Intel, tightening in-house control of advanced semiconductors for Tesla's robotics, autonomy, and energy ambitions. The move raises the stakes for returns on the US$25,000,000,000 plus in planned 2026 capex. Tesla's narrative projects $165.9 billion revenue and $14.4 billion earnings by 2029, requiring 17.0% yearly revenue growth and a $10.6 billion earnings increase from $3.8 billion today, with a $395.57 fair value implying 5% upside. Some of the lowest ranked analysts assume only 7.7 percent annual revenue growth and US$4,400,000,000 in 2029 earnings.