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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.

Baidu Partners with Switzerland’s PostBus to Launch Apollo Go Robotaxis in Europe

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Baidu (9888.HK) announced a partnership with Switzerland’s PostBus on Wednesday to bring its Apollo Go autonomous vehicle service to the country, marking the Chinese tech giant’s first robotaxi deployment in Europe. The deal highlights Baidu’s rapid international expansion in self-driving technology amid slowing growth in its traditional advertising business.

Under the partnership, PostBus, a subsidiary of Swiss Post and one of the country’s major public transport operators, will collaborate with Baidu to introduce driverless vehicles to eastern Switzerland. The service will cover the cantons of St. Gallen, Appenzell Ausserrhoden, and Appenzell Innerrhoden, with a trial fleet set to begin testing in December 2025 and full operations expected by early 2027, according to Baidu’s statement.

The agreement follows Baidu’s recent partnerships with Lyft and Uber, under which the company will deploy thousands of its Apollo Go robotaxis across several European and international markets beginning next year. The Swiss launch signals Baidu’s ambition to become a key player in global autonomous mobility, challenging U.S. and European rivals such as Waymo, Cruise, and Mobileye.

Baidu said its Apollo Go platform now operates more than 1,000 fully driverless vehicles in 16 cities worldwide, including Dubai, Abu Dhabi, and Hong Kong. The company has positioned Apollo Go as one of the largest autonomous ride-hailing services in the world, with millions of rides completed.

As China’s economy cools, Baidu has increasingly shifted its focus toward artificial intelligence and autonomous transportation technologies to diversify its revenue. The collaboration with PostBus gives Baidu a foothold in the European market, where regulatory approval for driverless vehicles has been gradually expanding.

Industry analysts say the partnership could make Switzerland a testing ground for wider European adoption of Baidu’s robotaxi systems, blending Chinese innovation with Swiss public transport infrastructure.

Waymo to launch driverless ride-hailing service in London in 2026

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Alphabet’s autonomous vehicle subsidiary, Waymo, announced plans to launch its fully driverless ride-hailing service in London next year, marking its first major expansion into Europe. The company, which has been gradually scaling operations in the United States, aims to bring its robotaxi technology to one of the world’s most densely regulated urban environments.

Waymo said it will partner with vehicle financing firm Moove to manage fleet operations, facilities, and charging infrastructure in London. The company is also working closely with local and national authorities to obtain the necessary regulatory approvals ahead of the launch. According to a spokesperson, vehicles are already en route to London, where they will initially be tested with safety drivers before transitioning to full autonomy in 2026.

In the U.S., Waymo currently provides over 250,000 paid trips weekly across cities including San Francisco, Los Angeles, Phoenix, Atlanta, and Austin, with a fleet of roughly 1,500 vehicles. The company has also been expanding internationally, collecting data in Tokyo earlier this year in collaboration with Japanese partners Nihon Kotsu and Go.

The move comes amid intensifying competition in the autonomous transport sector, as Tesla prepares to debut its long-promised robotaxi service and Uber plans to trial fully driverless rides in the UK in partnership with AI startup Wayve. Despite regulatory challenges and technical setbacks in the U.S., Waymo’s London project signals renewed momentum for commercializing self-driving technology.