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Tesla Set for Strong Quarter as Buyers Rush to Beat Expiring U.S. EV Tax Credit

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Tesla is expected to post a strong third-quarter performance, boosted by a surge in U.S. sales as customers rushed to buy electric vehicles before the $7,500 federal EV tax credit expired. The results, due later on Wednesday, will be closely watched for signals on how CEO Elon Musk plans to sustain growth amid tightening competition and political controversy.

The company’s new, cheaper “Standard” versions of its Model 3 and Model Y have driven fresh demand. These models are roughly $5,000 to $5,500 cheaper than earlier trims, featuring smaller batteries, weaker motors, and stripped-down interiors that omit rear screens and seat pockets. Tesla also temporarily reduced lease prices on premium versions to clear inventory.

However, these aggressive price cuts and feature reductions have squeezed profit margins, a growing concern for investors. Analysts estimate Tesla’s automotive gross margin, excluding regulatory credits, will fall to 15.6%, down from 17.05% a year earlier.

Tesla’s overall revenue is expected to rise 4.2% year-on-year to $26.24 billion, according to LSEG data, though analysts will also look for signs that sales of pollution credits — which Tesla sells to gasoline carmakers — have tapered off following Trump administration policy changes.

Beyond financials, investors are eager for updates on Tesla’s robotaxi rollout, which Musk has described as the company’s next growth engine. He has claimed Tesla’s robotaxis could serve half the U.S. population by year-end, though specifics remain elusive. Analysts at Cantor Fitzgerald said the top questions now involve “fleet size, cumulative miles, and service territories” expected by Q4 and 2026.

Despite a slowdown in sales of its aging lineup and consumer backlash linked to Musk’s far-right political rhetoric, Tesla shares have risen nearly 10% this year, buoyed by a proposed $1 trillion pay package for Musk. Still, Tesla remains one of the weaker performers among the “Magnificent 7” tech giants.

The earnings call, set for 5:30 p.m. EDT, may offer a clearer view of how Musk plans to balance his AI and robotics ambitions with Tesla’s core vehicle business — the source of most of its revenue today.

Right-Wing Media Figures and AI Pioneers Unite to Call for Superintelligent AI Ban

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A coalition of U.S. right-wing media figures and AI pioneers has issued a joint statement urging a global ban on developing superintelligent artificial intelligence, warning that progress toward machines exceeding human cognition must halt until society can ensure safety and democratic oversight.

The initiative, announced Wednesday by the Future of Life Institute (FLI), includes signatures from Steve Bannon, Glenn Beck, and tech luminaries Geoffrey Hinton and Yoshua Bengio—two of the so-called “godfathers of AI.” The non-profit, founded in 2014 and initially supported by Elon Musk and tech investor Jaan Tallinn, has long advocated for responsible AI development and limits on advanced machine intelligence.

The statement calls for governments worldwide to prohibit the creation of AI systems capable of surpassing human intelligence until “science shows a safe way forward” and “the public demands it.” It argues that current AI development races are reckless and could produce technologies that threaten human autonomy, stability, and safety.

The unusual alliance between conservative media figures and leading scientists highlights the broadening political and cultural anxiety surrounding AI’s rapid evolution. It also reflects growing skepticism on the populist right, where some commentators have warned that unchecked AI could concentrate power in corporate and political elites.

While many in the technology industry and the U.S. government have dismissed calls for AI moratoriums as harmful to innovation and economic competitiveness, the involvement of influential figures like Bannon, Beck, and Apple co-founder Steve Wozniak could amplify public debate. Other signatories include former Irish President Mary Robinson and Virgin Group founder Richard Branson.

Supporters of the ban say the move is not anti-technology but a precautionary measure. “The race to build superintelligent AI must not outpace our ability to control it,” said an FLI spokesperson. “Without democratic input and safety guarantees, the risks are existential.”

The statement follows a broader series of warnings from experts and public figures, including Musk and OpenAI co-founder Sam Altman, who have both urged the creation of global AI safety frameworks.