Goldman Sachs Cuts Tesla Delivery Forecasts on Weak China, US, Europe Sales

Lucid Group and the European shared mobility platform Bolt announced a strategic partnership on September 17 to develop and deploy autonomous mobility services across Europe, sending Lucid shares up nearly 6% on the day. The tie-up combines Lucid's software-defined vehicle platform with Bolt's European data, operating infrastructure and mobility expertise, with services to run on vehicles built on Lucid's upcoming Midsize platform. Bolt plans to deploy at least 25,000 fully autonomous vehicles across multiple European cities and countries, supporting its goal of 100,000 autonomous vehicles on its platform by 2035, though financial terms of the partnership were not disclosed. The deal lands as Lucid remains under significant financial pressure: in its Q2 2026 results, production rose 24% from a year earlier, deliveries climbed 19% and revenue jumped 56%, but the quarter carried an adjusted net loss of $2.78 per share against a Wall Street consensus estimate of $2.41 per share, and cash burn reached $1.47 billion, up from just over $1.01 billion a year earlier. Management said it has identified $1.4 billion in cash flow improvements for 2026 across operating costs, capital spending and working capital, while short interest stood at 45.81% of the float as of August 31 and the 12 analysts covering the stock split 25% Buy, 50% Hold and 25% Sell, with a median 12-month price target of $7 implying more than 60% upside.

Tesla is preparing to enter the European electric truck market, bringing its European Semi to the IAA Transportation trade fair in Hanover, Germany, after publishing key European specifications ahead of the event. The European version of the Semi offers a range of up to 550 kilometers and energy consumption of about 1 kilowatt-hour per kilometer, with deliveries poised to begin next year. According to Transport & Environment, new entrants collectively could capture 24% to 31% of Europe's electric heavy-truck market by 2030, though that estimate assumes manufacturers meet their stated production and sales ambitions. Tesla faces aggressive competition from established manufacturers that already offer EV trucks and hold extensive fleet-operator relationships, and its 550-kilometer range sits below some competing models that can travel roughly 700 kilometers on a single charge. The company would also need heavy capital spending on high-power charging infrastructure along freight corridors and must scale production alongside Semi deliveries to achieve mass adoption. Hedge fund holdings in Tesla declined to 116 in the second quarter from 123 in the first quarter, with BAMCO Inc. raising its stake by 5% to approximately $5.27 billion and DE Shaw cutting its position by 1% to about $1.83 billion.