Latest news with #Optimus
Yahoo
2 hours ago
- Automotive
- Yahoo
Things Are Looking Really, Really Bad for Tesla
Elon Musk's carmaker Tesla is widely expected to disappoint with its Q2 earnings report later today. Demand for the company's EVs has dried up significantly over the past 18 months, driven in large part by its exceptionally divisive CEO's efforts to alienate buyers at the exact moment that the company is facing a flood of high-quality international competition. Deliveries fell a record 13.5 percent this quarter compared to a year earlier — and the accompanying earnings report, which is set to be released this afternoon, could paint an even more dire picture of Tesla's financials, as CNN reports, highlighting just how far the carmaker has fallen. Despite plummeting car sales, investors have remained resiliently optimistic, with shares rallying 50 percent since hitting their lowest point this year in April. As Bloomberg reports, profit estimates have plummeted — but shares have rallied in response, highlighting an unusual inverse relationship. Shares are up over six percent over the last five days leading up to Tesla's earnings report this week, indicating plummeting revenues aren't a major concern to investors. Tesla bulls have also seemingly looked past president Donald Trump's "big, beautiful bill," which passed earlier this month. The bill will remove a $7,500 tax credit for US-made EVs, as well as a federal fuel economy incentives program, which generated almost $2.8 billion in revenue for Tesla in 2024. The waning demand adds even more pressure on Musk's massive bet on a robotaxi service, which launched in a geo-fenced area in Austin, Texas, last month, opening up the billionaire to criticism that he's abandoning the carmaker's core business in favor of going all in on AI and autonomous ridehailing. But given the chaotic nature of Tesla's extremely limited robotaxi launch, the carmaker still has a lot to prove. Despite the limited rollout, the robotaxis have already caused mayhem on the streets of Austin, from terrifying close calls to reckless driving and broken laws. Whether Musk's vision for autonomous driving will eventually pay off remains unclear at best. For one, critics have pointed out that relying exclusively on cameras — and not radar or LIDAR — is a huge mistake. Tesla also has steep competition, largely in the form of Alphabet's Waymo, which has a massive lead over the EV maker and already operates robotaxi services across several major US cities. In other words, investors will have to subscribe to Musk's vision of a robotaxi service whether they like it or not. The mercurial CEO previously predicted that millions of self-driving cabs would be hitting the street by the end of 2026, which currently feels like an extreme long shot. Musk has also claimed that Tesla's Optimus humanoid robot business would generate obscene amounts of revenue — anywhere up to $10 trillion. But longtime Musk watchers are by now accustomed to hearing him make claims that don't ultimately come true. In short, now more than ever before, Tesla's market value has become a litmus test of how confident investors are in Musk and his personal vision for the tarnished brand. And now that he's had a massive falling out with the president, announcing he would be creating his own political party — a move that itself left investors largely unimpressed — the pressure is on. "The Tesla story is about Musk," Integrity Asset Management portfolio manager Joe Gilbert told Bloomberg. "If he can give confidence to the market that he is re-focused on robotaxi and the brand, the stock can work." More on Tesla: Waymo Responds to Elon Musk's "Schlong Map" by Showing That Theirs Is Bigger Sign in to access your portfolio
CNBC
3 hours ago
- Automotive
- CNBC
Tesla set to report second-quarter earnings after the bell
Tesla will report second-quarter results after the close of regular trading on Wednesday. Here's what Wall Street expects, according to an average of estimates compiled by LSEG: Revenue in the period is expected to drop 11% from a year earlier, marking a second straight quarterly decline. In early July, Tesla reported a 14% year-over-year slide in vehicle deliveries to 384,000 for the second quarter. Deliveries are the closest approximation of EV sales reported by Tesla but aren't precisely defined in its shareholder communications. Tesla's slump this year is partly due to a backlash against the company in the U.S. and Europe, after CEO Elon Musk spent heavily to help reelect President Donald Trump, endorsed Germany's extreme anti-immigrant AfD party, and then led the Trump administration's Department of Government Efficiency. At DOGE, Musk helped to slash the federal workforce, roll back regulations, and eliminate USAID. Other automakers saw their electric vehicle sales increase, eating away at Tesla's market share during the second quarter. General Motors' U.S. sales of EVs rose 111% year-over-year to nearly 46,300 units in the period for an estimated market share of 16%, still far behind Tesla. Musk's political activism hasn't been the only factor weighing on the brand. Tesla has put off the production of a more affordable "model 2" EV, while other automakers are now offering a greater variety of vehicles, and China-based competitors are selling affordable EVs with high-tech self-driving features as a standard rather than premium option. Tesla shares are down about 17% for the year, the worst performance among tech's megacaps. The Nasdaq is up more than 8% in 2025. Musk has tried to keep fans and investors focused on Tesla's future, which he envisions as being dominated by the company's robotaxis, and humanoid Optimus robots. Musk sees Tesla's robotaxis as working for their owners, making them money while they sleep. Optimus robots, he says, will be so sophisticated they can serve as factory workers or babysitters. Tesla opened a diner and charging station in Los Angeles this week, where fans can see the Optimus robots at work on a simple task, slowly scooping popcorn. The company faces massive competition in robotics from developers including 1X Technologies, Agility Robotics, Apptronik, Boston Dynamics and Figure AI. In June, Tesla began testing a robotaxi service in Austin, Texas, which operates in a limited area with a human valet on board. The service is accessible only to select riders, generally Tesla and Musk enthusiasts. The robotaxi rollout is seen by bulls as a positive sign for the company, but Bank of America analysts cautioned in a recent report that it would have "immaterial financial ramifications" in the near term. The National Highway Traffic Safety Administration, meanwhile, has pressed Tesla for information about reported incidents where the vehicles appeared to violate traffic laws. In one incident, a Tesla robotaxi scraped a parked vehicle at a pizzeria parking lot in Austin, and in another, a robotaxi veered out of its lane briefly into oncoming traffic. In a note earlier this month, Barclays analysts said Tesla has shown "weak fundamentals" heading into its earnings report. Still, shareholders have remained excited about Tesla's "robotaxi narrative," wrote the analysts, who have the equivalent of a hold rating on the stock. Wednesday's report will be the first for Tesla since Musk officially left his role in the Trump administration and immediately preceded to publicly slam the president, mostly for the Republicans' spending package that he endorsed. Musk has since promised to start a new political party in the U.S. which he calls The America Party. One retail investor submitted an anonymous question via the Say platform, which Tesla uses ahead of earnings calls, to ask, "With Elon Musk now more publicly involved in U.S. politics through the new America Party, is Tesla taking any steps to manage potential risks, whether from shifting political alliances, regulatory perception, or public opinion?" Most questions submitted to the platform sought updates from Tesla about its robotaxi test in Austin, self-driving ambitions and its plans for a more affordable EV model. Tesla's automotive gross margins are also likely to be in focus, along with commentary on how the company will weather Trump's tariffs and the end of federal tax credits for EV buyers. Company executives will host an earnings call with analysts at 5:30 p.m. ET.
The Verge
5 hours ago
- Business
- The Verge
Anti-Elon Musk protesters are coming for Tesla's new diner
Tesla just opened a retro diner in Los Angeles, so it was only a matter of time before anti-Elon Musk protesters caught wind. The long-awaited retrofuturistic diner, complete with giant outdoor screens for drive-in movies, dozens of Supercharger stalls, and an Optimus robot serving popcorn, opened to huge lines in West Hollywood on July 21st. Protesters are planning on demonstrating outside the newly opened diner on July 26th, according to the Action Network website, which has served as a repository for the so-called Tesla Takedown movement. '[Elon Musk] wants to celebrate his reign of terror in OUR CITY, Occupied Los Angeles, with a cheesy Tesla-branded diner exclusively for his legion of conmen stock-pumpers and MLM influencer tryhards?' the website reads. 'WE SAY HELL NO.' '[Elon Musk] wants to celebrate his reign of terror in OUR CITY, Occupied Los Angeles, with a cheesy Tesla-branded diner exclusively for his legion of conmen stock-pumpers and MLM influencer tryhards?' Since early February of this year, Tesla has been the target of protesters opposed to Musk's involvement with the Trump administration. As Musk's Department of Government Efficiency (DOGE) sought to eliminate humanitarian aid programs and fire tens of thousands of government workers, demonstrators have expressed their rage by picketing outside Tesla showrooms and demanding Tesla owners sell their vehicles. Others have taken things further, defacing Tesla vehicles with anti-Musk slogans, smashing windows, and even setting some Tesla property on fire. Musk's allies in the Trump administration are threatening to prosecute anyone caught defacing Tesla vehicles by classifying the acts as 'domestic terrorism.' Musk officially stepped back from DOGE in May, although he claims that he will remain involved with the group in some capacity. The following month, Musk and President Donald Trump had a public falling out, with the two engaged in a war of words. Trump has threatened to deport Musk, while Musk has accused the president of being on Jeffrey Epstein's alleged client list. Despite all the drama, anti-Musk protesters are trying to keep up the energy. Joel Lava, who has been helping lead the Tesla Takedown protests in Los Angeles, said he expects a large crowd outside the diner this Saturday. 'It's in West Hollywood,' Lava told The Verge. 'I think it's safe to say that Elon Musk is not a popular figure in West Hollywood. So I don't think it's going to be hard to protest it.' 'I think it's safe to say that Elon Musk is not a popular figure in West Hollywood.' While the weekly crowds may have diminished slightly from their peak in the spring, and while Musk may have distanced himself from the Trump administration, the Tesla Takedown movement hasn't given up. Lava said that dozens of people still show up every week to protest outside of Tesla locations in LA, buoyed by news of Tesla's worsening earnings statement and falling sales. He also cited recent reports of food that was supposed to ship out with USAID being left to rot in warehouses thanks to DOGE's funding cuts. And the news that Musk may start his own political party has further motivated the activists to keep up their presence, Lava said. 'Yes, our numbers have dwindled, but they have stayed strong,' he said. 'We've already built a community, [and] people will show up.' Lava said the tactics will be similar to those used in protests outside of Tesla dealerships and charging stations: raising awareness about Musk's efforts to decimate humanitarian aid and destroy the federal government. 'I think our simple message is Tesla funds fascism,' Lava said. 'You're going into this cafe, and you're giving a $300 billion man your own money to help destroy the fabric of our country. That's why we don't want you buying Tesla. And that's why you shouldn't go into this cafe.' Posts from this author will be added to your daily email digest and your homepage feed. See All by Andrew J. Hawkins Posts from this topic will be added to your daily email digest and your homepage feed. See All Electric Cars Posts from this topic will be added to your daily email digest and your homepage feed. See All News Posts from this topic will be added to your daily email digest and your homepage feed. See All Policy Posts from this topic will be added to your daily email digest and your homepage feed. See All Politics Posts from this topic will be added to your daily email digest and your homepage feed. See All Tesla Posts from this topic will be added to your daily email digest and your homepage feed. See All Transportation
Time of India
7 hours ago
- Business
- Time of India
Elon Musk's Tesla diner has robots serving popcorn, cybertruck food boxes and 66ft movie screens. Check full list of menu
Tech mogul Elon Musk 's Tesla Diner opened in Hollywood, California and his fans camped outside waiting for the grand opening. The 'retro-futuristic' eatery was opened for business on Santa Monica Boulevard where robots would serve popcorns and there would be cybertruck-shaped food containers and giant movie screens. The establishment also has charging stations for cars. The key highlight of the diner is its food, with the company stating that the ingredients are organic and sourced locally. "The overwhelming majority of the ingredients sourced for the Tesla Diner are rooted in responsibly sourced, sustainable local products available within a full charge of a Tesla," the company wrote in a statement. 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Find Out Instantly Try Now Undo In a video posted by Tesla's chief designer Franz von Holzhausen, visitors were seen cheering the launch. Musk made Tesla enthusiasts wait until 4:20 p.m. to be let in, in keeping with his frequent references to marijuana. Visitors arriving in a Tesla can order food directly from their car screens. The audio from the 45-foot movie screens also syncs with Tesla's in-car sound systems. Live Events ALSO READ: Jeffrey Epstein's $560 million net worth: How did he amass such massive fortune? Elon Musk's Tesla Diner opens: Full list of menu revealed Elon Musk's Tesla diner is open 24/7 and accommodates more than 250 people. Aside from the food, it boasts a range of technological features including 80 supercharger stalls for electric vehicles and solar panels, as per The Independent. The Tesla Bot, also known as Optimus, waved to customers from behind a movie-style popcorn machine when the branch opened. Patrons can watch films on two giant LED screens. The diner serves up American fast food staples including fried chicken and waffles for $13.50, grilled cheese for $9 and tuna melts for $14. A $13.50 Tesla Burger is also on offer, served with "electric sauce', on the menu created by LA chef Eric Greenspan. — niccruzpatane (@niccruzpatane) Burgers & Sandwiches Tesla Burger ($13.5) Hot Dog ($13) Diner Club ($15) Tuna Melt ($14) Fried Chicken & Waffles ($13.5) Grilled Cheese ($9) All-Day Breakfast Egg Sandwich ($12) Avocado Toast ($11) Greek Yogurt Parfait ($9) Breakfast Tacos ($11) Biscuits & Red Gravy ($15) House-Baked Cinnamon Roll ($7) Sides Fries ($4) Hash Brown Bites ($8) Wagyu Beef Chill Cup ($8) Buttermilk Waffle ($5) Market Salad ($10) Epic Bacon ($12) Kid's Menu Kid's Burger ($13) Kid's Grilled Cheese ($13) Chicken Tenders ($13) Desserts Soft Serve ($6) Slice of Pie à la Mode ($12) Chocolate Chip Cookie ($5) Beverages Fountain Drinks ($4) Shakes ($4) Lemonade ($4) Organic Draft Kombucha ($8) Drip Coffee ($4) Nitro Cold Brew ($4.5) Espresso (hot, iced, decaf) ($4) Cappuccino (hot, iced, decaf) ($5.5) Latte (hot, iced, decaf) ($6) Iced Nitro Matcha ($6.5) Charged Sodas Creamsicle ($7) Shirley Temple ($7) Lime Rickey ($7) Catawba Flip ($7) Dirty Kombucha ($10) The Tesla CEO promoted the diner launch on his social media platform X. 'If our retro-futuristic diner turns out well, which I think it will, Tesla will establish these in major cities around the world, as well as at Supercharger sites on long distance routes,' he wrote. 'An island of good food, good vibes & entertainment, all while Supercharging!' ALSO READ: $1,390 Stimulus check in 2025: Do Americans need to pay tax on the amount and who needs to apply? 'Try it out. Aiming to be a fun experience for all, whether Tesla owners or not. Will keep improving,' he later added. How did people respond to it? Early reactions from diners were positive, with some travelling long distances just to get a taste. 'I drove 6 hrs to eat, charge, and chill at the Tesla Diner that just opened. My family is ecstatic right now,' one superfan wrote on X. Another customer, Zack, wrote: 'First meal at the new Tesla Diner! Solid cheeseburger and great beef tallow fries.' Others posted on social media were more skeptical. 'Prediction: Every Tesla influencer who eats at the Tesla Diner in the next week will say it's the BEST food they've ever had,' Miss Jilliane wrote.
India Today
9 hours ago
- Automotive
- India Today
X reviews pour in for Tesla's retro-futuristic diner in Los Angeles
Tesla's latest venture, a diner on Santa Monica Boulevard in Los Angeles, has triggered a fair bit of chatter online. Blending retro Americana with futuristic tech, the diner has already earned praise from tech enthusiasts and loyal Tesla Tesla Diner, which opened on July 21, offers an experience that combines classic drive-in vibes with cutting-edge innovation. Visitors can enjoy burgers, hot dogs, wings, and hand-spun milkshakes served in Cybertruck-shaped boxes, all while watching movies on 45-foot outdoor owners can even order food directly from their car screens, with the audio synced seamlessly to the in-car sound systems. Inside the diner, Tesla's humanoid robot Optimus is seen serving popcorn, adding to the futuristic appeal. The space also boasts 80 Superchargers, making it a one-stop spot for dining, entertainment, and charging. On X, users shared their experiences and reviews. One post showed a Tesla car screen displaying the note: 'Gratuity: Tesla covers tipping for staff. Total Price: We're seeing high demand. You can complete your checkout at the diner once you are parked and charging.'"Best part about Tesla Diner," the user said as he shared the picture in a post on user praised the diner's commitment to sustainability as they shared a picture of their menu.'Tesla has sourced sustainable, organic ingredients that are actually good for you. Kudos to Tesla for this,' the user said.A particular user shared a nostalgic post. 'It's everything good about America's past wrapped into one facility from the future It's inspiring and nostalgic. Please build them in every city,' wrote the user, sharing photos of the diner's open-air user shared an adorable video of their children getting popcorn from automated Optimus kids @Tesla_Optimus #TeslaDiner Prime the pump (@whistingbhole) July 20, 2025"I drove 6 hrs to eat, charge, and chill at the Tesla Diner that just opened. My family is ecstatic right now," a user said.I drove 6 hrs to eat, charge, and chill at the Tesla Diner that just opened. My family is ecstatic right now. Teslaconomics (@Teslaconomics) July 22, 2025Elon Musk himself visited the location on July 14 and posted on X, 'I just had dinner at the retro-futuristic @Tesla diner and Supercharger. Team did great work making it one of the coolest spots in LA!'However, not everyone is impressed. According to the Los Angeles Times, some locals have expressed dissatisfaction, with one protester stating, 'We will do everything in our power to get him to sell this place and get out of here.'Construction of the two-storey diner began in late 2023. The top level features an outdoor dining area, while the ground floor offers drive-in movie screenings, bringing Musk's 2018 vision of an 'old-school drive-in, roller skates and rock restaurant' to life.- EndsTrending Reel
