On Wednesday's Q3 earnings call, Elon Musk said the vast majority of Cybercabs will be owned by Tesla and operated as a transport-as-a-service, rather than sold to consumers. VP of Vehicle Engineering Lars Moravy said Tesla is trying to get Cybercabs to customers by the end of 2026, while AI lead Ashok Elluswamy suspected the first customer vehicles could join the Robotaxi fleet around Q2 next year. Current Cybercab units built in Texas are all going into Tesla's internal fleet. Tesla reported revenue of $28.05 billion, above the $27.88 billion consensus, and EPS of 48 cents against 43 cents expected, although automotive revenue fell 3% year-on-year to $20.56 billion. The company also reported 1.74 million active FSD subscriptions, up 67% year-on-year.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
TSLAElon Muskself-driving carselectric vehicles
Open a keyword to see other news on the same topic.
Related tickers and likely impact
TSLA
▲ Likely positiveTesla, Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.4T |
| Close on 10/21/2026 | 386.55 |
| Change that session | +3.44% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Kimbal Musk Says Tesla Cybercab Is 'Amazing to Use' as Driverless Fleet Explodes in Austin and Raises Stakes for Elon Musk's Robotaxi Bet
Tesla director Kimbal Musk praised the Cybercab after riding it in Austin, calling it 'amazing to use' and saying it arrived on time, two years after Tesla unveiled the vehicle on Oct. 10, 2024. Tesla began limited public Cybercab rides in Austin on Sept. 3, 2026, and said on Oct. 10 that more than 300 Cybercabs were serving the city, an eightfold increase in 30 days. The Cybercab is a two-seat vehicle with no steering wheel or pedals and now joins Model Y in the Robotaxi fleet, which operates in limited areas of Austin, Dallas, Houston, Miami, Orlando and Tampa. Federal regulators have also opened an inquiry into how Tesla certified the steering-wheel-free vehicle under U.S. safety rules.
- Tesla Robotaxi Fleet in Austin Soars 8x in a Month While Elon Musk Admits TSLA Is Still Working on Not Running Over Cats
Tesla said its Cybercab fleet serving Austin has grown to more than 300 vehicles, an 8x increase in 30 days, and Elon Musk said the service is scaling. Musk acknowledged that poor visibility at night remains a challenge as the service extends its operating window from 10 p.m. to 11 p.m., and that the main goal is avoiding running over pets such as kittens. Unlike Waymo and WeRide, which use LiDAR alongside cameras, Tesla relies on a vision-only approach. In Europe, Tesla dropped the “Full Self-Driving (FSD) Supervised” name for “Tesla Assisted Driving” after German authorities said the name could mislead customers, and Musk praised German Transport Minister Steffen Bilger's comments urging other European countries to approve FSD.
- As Robotaxis Spread, Carmakers Must Choose Between Owning the Customer and Selling the Car
Tesla, Waymo (Alphabet) and Zoox (Amazon) already operate robotaxis in the U.S., while Chinese operators are expanding their fleets. The article divides players into those that own the rider through robotaxis (Tesla, Amazon, Alphabet, Uber) and automakers focused on selling cars with autonomy, such as Ford and GM, which abandoned robotaxi development. Tesla treats robotaxis as its core business, with Musk saying it would make several times more Cybercabs per year than all its other vehicles combined, while GM CEO Mary Barra is targeting personal autonomy. The article says Tesla and BYD are likely winners with caveats: Tesla already holds more than 50% of the U.S. EV market, but failing to develop new EV models could hurt it if Barra is right. Tesla's stock is also priced on the assumption that its robotaxi rollout succeeds.
- Tesla Wants Cybercabs in Customers' Hands by the End of 2026
Lars Moravy said on the third-quarter earnings call that Tesla is trying to get Cybercabs to customers by the end of 2026, but Cybercabs built in Texas currently go to Tesla's internal Robotaxi fleet, and no delivery date, volume, price or ordering process has been given. Elon Musk said the Cybercab will mainly be offered as transport-as-a-service and largely owned by Tesla, so outside buyers are likely fleet and business customers, though an interest form posted September 3, 2026 only asked businesses about fleet purchasing. Production is paced by robotaxi demand and regulatory approvals, with installed capacity above 125,000 units and Dallas robotaxi service planned for November. Shares closed up 3.41% at $386.47 but fell 3.32% to $373.65 after hours, and the stock trades at 402 times earnings. Active FSD subscriptions reached 1.74 million, up 67% from a year earlier.
- Tesla says it will start selling Cybercabs by end of year
Tesla said it will start selling Cybercabs to customers by year-end, even as federal regulators investigate whether the vehicle meets safety standards. The gold-hued, autonomous two-seater has no steering wheel. On the third-quarter earnings call, Tesla VP of engineering Lars Moravy said all Cybercabs produced now are for Tesla's own robotaxi fleet, and customer sales will start small and expand as the company learns about delivery, ownership and fleet management. Musk said Cybercab will mainly be a Tesla-owned transport service, and that an unsupervised version of FSD is expected for customers in the second quarter of next year, another delay for owners who bought the software years ago.
- What Tesla (TSLA) Said on Its Q3 Earnings Call
Tesla said vehicle demand exceeded production in the third quarter of 2026, with more than 480,000 deliveries for a second straight quarter and its highest backlog in four years. Paid FSD customers passed 1.7 million globally, with subscriptions making up 50% for the first time, and automotive gross margin excluding regulatory credits rose to 18.1%. Energy storage deployments reached 13.7 GWh and energy gross margin hit 33.1%, mainly due to tariff refunds, while Megapack production for 2027 is nearly sold out. Tesla expects full-year capital expenditure of about $20 billion and ended the quarter with more than $45 billion in cash and investments. It is expanding its Austin Robotaxi fleet, plans to launch Cybercab service in Dallas next month, and is building Optimus production capacity.
Related markets
Latest news
- Irish central bank fines Coinbase Ireland $3.6 million over fund safeguarding failures
Ireland's central bank fined Coinbase Ireland 3.25 million euros ($3.6 million) for alleged failures to safeguard customer funds and oversee outsourced services, saying the unit relied excessively on its U.S. parent and lacked adequate systems and controls. The regulator cited a 2023 episode in which Coinbase directed 30 customers to deposit funds into an alternate account at another U.S. bank when Silvergate neared collapse, holding them alongside funds of another Coinbase entity's customers, and coding errors left a safeguarding account underfunded by an average of 0.54% in 2023 and the first half of 2024. Coinbase said no customer lost money or was unable to access funds. The penalty follows a 21.4 million-euro fine on Coinbase Europe in 2025 for anti-money laundering failures.
- XRP Is 63% Below Its All-Time High and Ethereum 51%. Which Reclaims their ATH First?
XRP trades at $1.33, 63.5% below its all-time high of $3.65 set in July 2025, while Ethereum is at $2,403, 51.4% below its August 2025 peak of $4,946, and both fell over the past month. Reclaiming those highs would require gains of 174.4% for XRP and 105.9% for Ethereum, and the article concludes Ethereum has the edge, citing JPM Coin's integration onto its network on October 19 and a sizeable ETF asset base. XRP ETFs held $1.57 billion in net assets, but inflows slowed to $708,500 on October 21, while Ethereum's cumulative ETF net inflows fell to $12.83 billion amid outflows. Other news includes Germany's Sparkassen savings banks offering XRP trading and Ethereum's Glamsterdam upgrade entering the Hoodi test network on October 26.
- Tech stocks fall as Nvidia boss warns of AI funding slowdown
US stocks fell sharply on Thursday after Nvidia CEO Jensen Huang warned that a “scarcity of capital” was holding back AI rollout, fuelling worries about the cost of sustaining the AI boom. The Nasdaq 100 dropped 1.5% and the S&P fell nearly 1%. Meta shares slid 5% after it raised the lower bound of its capex guidance from $130 billion to $135 billion and issued new non-voting stock, while Tesla fell 2% after cutting its proposed AI spending from $25 billion to $20 billion. Oil added to the sell-off, with Brent rising 2.5% to $111.60 per barrel, its first move above $110 since May, after Aramco evacuated staff from its Dhahran headquarters over a warning of Houthi attacks.
- Musk: People Are "Buying FSD With a Car Attached." There's Only One Problem.
Tesla said 75% of its new North American deliveries in the third quarter came with an FSD subscription, up from 55% in the second quarter, and active FSD subscriptions rose 67% to 1.74 million. Tesla has not disclosed how many subscribers pay, since the first month is free. When an RBC analyst asked whether the paid rate was closer to 30% to 40%, CFO Vaibhav Taneja did not give a clear answer. The article also notes that Tesla's overall gross margin fell from 25.6% in fiscal 2022 to 18% in fiscal 2025, while the stock trades at 185x forward earnings. It argues the paid attach rate is the key figure to watch, as paid FSD revenue remains small relative to Tesla's total sales.
- Producer of 'Say Hi' Shows to Be Listed on HoSE
HoSE has approved the listing of more than 111.4 million DVV shares of DatVietVAC, the producer of the 'Say Hi' shows, with the decision signed on October 20. The first trading day has not been officially announced, but the plan is for early November, with a reference price of 54,800 dong, equal to the IPO price. The market capitalization is estimated at over 6,100 billion dong (more than 234 million USD), compared with nearly 1,700 billion dong for Yeah1 (YEG) at the close on October 22. The IPO's registered purchase orders reached 106.6% of the shares offered. This year, DatVietVAC targets revenue of 3,382 billion dong and after-tax profit of 420 billion dong, growth of about 6% and 11%.
- TeraFab's $16.8 billion bet to start producing 100K chips a month
Host Ejaaz Ahamadeen comments on Elon Musk's proposed $16.8 billion investment in his TeraFab semiconductor manufacturing project. He argues that chips are a key bottleneck for AI, humanoid robots and cars, and that vertical integration would reduce reliance on suppliers such as Nvidia. The first phase involves $16.8 billion to reach 100,000 wafers a month before 2030, with a peak of 1 million wafers a month within 10 years and more than 3,000 jobs. The host also stresses that the project carries many potential risks.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.