Tesla rides robotaxi momentum into earnings season

Tesla Inc (NASDAQ:TSLA) is heading into its second-quarter net study with robotaxis doing astir of the talking.

Bank of America reiterated its Buy standing connected the banal and $460 terms objective, pointing to the service's accelerated expansion, a transportation fig that blew past Wall Street estimates, and looming accumulation milestones for the company's Optimus humanoid robot.

The slope said capitalist absorption volition halfway connected the gait of robotaxi fleet scaling and caller marketplace launches. Tesla present operates successful 5 markets pursuing its July 3 motorboat successful Miami, though its San Francisco work inactive requires a information driver. Four further markets are successful preparation, compared with the company's archetypal people of 9 cities by the archetypal fractional of 2026.

Tesla's Texas fleet has scaled quickly, adding much than 100 vehicles implicit the past period to scope 175, the fastest maturation among the robotaxi operators Bank of America tracks. Safety information has remained compelling, with 22 incidents recorded done mid-June since the service's inception and nary superior injuries oregon fatalities. A San Francisco pricing survey the slope conducted successful June recovered Tesla was 21% cheaper connected mean than Waymo, Uber and Lyft, though hold times ran 3 to 4 times higher, suggesting request is outpacing supply.

On the halfway car business, Tesla reported second-quarter deliveries of astir 480,000 vehicles, supra statement estimates of astir 406,000 and up 25% year-over-year. That compares with S&P forecasts for planetary artillery electrical conveyance income maturation of 15% year-over-year, suggesting Tesla gained astir 95 ground points of BEV marketplace share. U.S. stock roseate 50 ground points year-over-year to 46.1% successful the quarter.

Bank of America besides flagged upcoming updates connected Optimus. Tesla is targeting archetypal accumulation astatine Fremont for precocious July oregon August, astir the aforesaid clip arsenic a imaginable Gen 3 reveal, with Giga Texas accumulation expected astir summertime 2027. The slope expects a dilatory ramp but sees semipermanent opportunity, forecasting planetary humanoid shipments of 1.2 cardinal units by 2030 and 10 cardinal by 2035.

Beyond Optimus, the slope expects absorption connected vigor retention pursuing Tesla's statement with NatPower for 25 GWh utilizing its Megapack system. Tesla remains the starring artillery vigor retention systems institution successful the U.S., an country present drafting entrants including Ford, General Motors and BorgWarner.

Bank of America said Tesla is successful the aboriginal stages of monetizing its autonomy capabilities, which it views arsenic the astir important alteration cause successful the displacement toward autonomous, electrical transportation.