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Lucid and Bolt Partner on Autonomous Mobility in Europe
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 Seeks Federal Ruling Over Terafab Name for $16.8 Billion Chip Complex
Tesla and SpaceX are seeking a federal ruling that the Terafab name does not infringe trademark rights held by TERA-print, adding a legal fight to the company's planned $16.8 billion chip complex. Tesla filed three Terafab-related trademark applications in May, and the planned Texas operation would manufacture, package and test advanced logic and memory chips for Optimus robots, Cybercabs and SpaceX data centers. Tesla shares slipped roughly 1% to $362.84 on Friday. The stock trades 8.66% above its $333.92 GF Value, indicating investors still pay a premium for Tesla's long-term growth ambitions. The larger question is whether Tesla can turn the $16.8 billion capital commitment into reliable semiconductor output, since bringing chip production in-house adds execution risk around yields, utilization, engineering talent and manufacturing discipline.
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Caterpillar Expands Robot Trucks to Two More Virginia Quarries
Caterpillar announced on September 15 that its self-driving haul trucks at a Luck Stone quarry are moving large tonnage, with expansion to two more Virginia quarries, Boscobel and Bealeton, including the first autonomous deployment of Cat 775 trucks. The company disclosed no order value, truck count, or profit contribution from the autonomy milestone, and autonomy was named on the earnings call only as a source of higher SG&A and R&D expenses inside Resource Industries. In the second quarter of 2026, revenue reached $20.5 billion, up 24% year over year, with adjusted EPS of $8.17, up 73%, while backlog climbed to $72 billion, up roughly $35 billion versus a year earlier. Power & Energy is the engine, with segment sales up 17% to $8.2 billion and power generation sales up 72% on large gensets and turbines for data centers, and gas prime orders extend toward the back half of 2028 and into 2029. Caterpillar trades at $798.51 against a consensus analyst target of $975.61, a trailing PE of 34x, and full-year tariff costs of around $2.2 billion for 2026, with expected IEEPA tariff recoveries of approximately $400 million.