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The results of the poll are in the (since last week’s version) and it is clear what you want: Analysis with a chapter A. You also want spoons, a piece of a news Roundup and offers, but long and long you are looking for analysis. I have always sprinkled my thoughts and ideas throughout the newsletter, but in the coming weeks and months you will see me pushing the analysis further.
In this note, the profit period is on us and the two stood out to me: Gm and Tesla. Both companies face invoices pressure. And while GM also sells natural gas vehicles, both try to sell EVs in a market that has seen growth late while facing a future without EV incentives.
How GM and Tesla plan to navigate it (or at least what they signal) is quite different.
GM, who saw the invoices taking a $ 1 billion bite from the Q2 line, still sees the UN as a “North Star”. And while GM is definitely following Tesla in EV sales today, it has a larger blend of EV models to attract customers – over twelve to everyone. And Chevrolet is now the brand no. 2 EV in the US
And while GM made $ 4 billion deferred revenue from the advanced Super Cruise system, along with onstar and other software services that will be recognized over time, the big issue of call was “flexibility”.
President and CEO of Mary Barra and Cfo paul jacobson Said the word “flexibility” nine times during the Q2 profits call. What they mean by flexibility is the creation of factories where they can easily collect EV and ICE vehicles – and change the demand mixture.
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In the meantime, Tesla bets heavily in the “future”, and for CEO Elon Musk which means autonomy and AI, or as he sometimes calls it, “a real world AI”.
The overwhelming majority (about 74%) of Tesla’s revenue still comes from the sale of cars, although the results of the Q2 show a 16% decrease annually in revenue from the automotive industry. But if you heard the Q2 call, it is clear that Elon Musk is not interested in Tesla being a car company. (He also admitted that the much -awaited cheaper Tesla model is really a stripped version of the Y.)
Musk wants to do and sell Optimus robots and develop autonomous vehicles. The problem is that today these products – or future products – do not make profits, let alone revenue.
Yes, Tesla introduces revenue from the advanced driver assist system known as a supervised complete self-driving. (This is not an autonomous vehicle and requires the involvement of the human driver.) And yes, the company charges for robot rides in the south Austin, but is not on a scale, nor is it profitable.
Musk acknowledged that there would be some difficult quarters ahead, but he still believes that he would eventually be where most of the Tesla profits come from.
I think this transition will last much longer than Musk has publicly shared. (Right today, information said the company is far behind the goal of producing Optimus.) And it seems that the company feels the pressure to act. For example, Tesla is said to be a limited version of the San Francisco robot service this weekend, although technically it does not have the required licenses. (What do you think Tesla’s solution will be?)
Meanwhile, Tesla is under regulatory and legal pressure that could further undermine her efforts to restart sales and even threaten his future plans around the FSD.
A little bird
Do you have a tip for us? Email Kirsten Korosec to kirsten.korosec@techcrunch.com or my mark on kkorosec.07, sean o’kane to sean.okane@techcrunch.comor Rebecca Bellan in rebecca.bellan@techcrunch.com.
Offers!
Just a smattering of the deals this week!
Bosch ventures drove a Series of 21 million $ investment in Screen 4A company based in Munich connecting automakers, chips and drivers through inherent vehicles.
Blocka company travel infrastructure company, set $ 15.8 million In a round led by BlockChange. The United Airlines Ventures, Faction Speed Speed, Lasagna, Litquity Ventures, Longbrook Ventures, KSV Global and TFJ Capital also participated.
Start GLīD technologies set $ 3.1 million In a round of pre-service funding led by Outlander VC, with Draper U Ventures, Antler, Veteran Fund, M1C and Angel investors.
Based on Los Angeles Neuroture He got out of Stealth last year with the ambitious goal of breaking the EV Truck Adoption Logjam. Nevoya has made a lot of progress on its goal of attracting investors – and a $ 9.3 million seeds led by Pedas. Floating Point and LMNT Ventures also participated, along with existing investors third, Stepchange, and never rise. Qasar Younis, the founder and chief executive of Buzzy Self-Guidance AI Company Applied Intuition, also invested.
Rune technologiesA boot that wants to face AI software for military logistics has set a $ 24 million round, led by human capital with the participation of PAX VC, Washington Harbor Partners, A16Z, Point72 Ventures, Xyz Venture Capital and Forward, and Forward, Forward,
Rapid navigationwhich has developed precise centimeters for vehicle autonomy, robotics and logistics, set $ 50 million In a E -funding round led by Crosslink Capital. Existing Investors Nea, Eclipse Ventures, EPIQ Capital Group, first Capital, Telus Global Ventures and Potentum Partners, along with new investors Niterra Ventures, Alti Tiedemann Global, Grids Capital, Essentia Ventures, Chea Ventures and EnerTech Capital.
Notable reading and other tidbits
Autonomous vehicles
Bent He will add autonomous buses from Austrian manufacturer Benteler Group to his network in late 2026. Buses will be deployed in collaboration with US cities and airports.
Electric vehicles
Clear Air owners will be able to charge their luxurious EVs to thousands of Tesla turbocharger stations in North America since July 31, almost two years since the automakers reached an agreement. But there is a remarkable warning: clear aircraft will not be able to charge as fast as Tesla vehicles.
Concert economy
Bery Brings the feature of women’s preferencesthat allows female drivers and riders to match each other in the United States. The feature will be released first in Detroit, Los Angeles and San Francisco.
Last but not less important
Another note Tesla. By the time this newsletter arrives in your inbox, we will not have an answer, but an important General services The listening took place all week in California. At stake: Tesla’s ability to sell cars in California.
TL? Dr: The Department of Motor Vehicles of California He argues that Tesla should lose his permission to sell vehicles to the state for false advertising claims on the branded automatic pilot and the full self-driving systems.
