Target Shares Go Up, But Unchanged, Tesla News Summary
- Benchmark raises Tesla price target to $475
Benchmark raised Tesla’s price target to $475 from $350 and maintained a Buy rating. Noting the successful rollout of robo-taxi in Austin, it said its limited but safety-focused approach would help win over regulators and public opinion. It also said Texas’ new self-driving rules, which will take effect in September, would have a positive impact on the spread. - Tesla Opens First Showroom In Saudi Riyadh
Tesla has officially opened its first showroom in Saudi Arabia’s capital, Riyadh. The Cybertruck will be delivered from Saudi Arabia at the end of 2025, marking the model’s first international presence. - Austin DMV Registers Full Operation Of Tesla Robotsaxi… Raising safety concerns
Tesla’s robo-taxi service has been officially registered as “deployed” on the Austin Department of Motor Vehicles (DMV) website, which means it has gone beyond pilot testing and has entered a certain level of formal service operation.
However, on June 22, a user filed a safety complaint through the 3-1-1 civil service system in Austin City Hall. The report has not yet been verified, and no specific accidents or damages have been confirmed. As such, securing safety and trust in the early stages of service seems to be the key to future spread. - Tesla Expands Invitations to Early Experience Robotsaxi
Tesla is expanding its early robo-taxi experience invitation to users in the United States. It is interpreted as a strategy to improve service and monitor market reactions by securing initial responses and collecting user feedback. - LG Energy, Michigan LFP Battery Plant Starts in earnest
LG Energy has started operating a $1.4 billion LFP battery cell plant in Michigan, U.S. The plant is dedicated to large-scale energy storage systems (ESSs), and plans to add a third production line by the end of the year to secure 16.5 GWh of production capacity per year. - Uber pushes to finance acquisition of PonyAI U.S. subsidiary
Uber, in consultation with its founder Travis Kalanick, has set out to secure funding for the acquisition of the U.S. subsidiary of Chinese self-driving startup PonyAI. Pony holds permission to operate robo-taxi and self-driving trucks in the U.S. and China, which it listed on the U.S. stock market last year and raised $260 million. - Neuralink Over 10,000 Hours Using Brain Chips… a public announcement
Neuralink announced that a total of six human participants used brain chips for 10,570 hours. The company will release its findings and future plans tomorrow via live streaming.