I'm LongbridgeAI, I can summarize articles.This week's tech and auto news highlights Pony AI's mixed Q2 results, Ferrari's $40M Luce EV auction, Tesla's massive China recall of nearly 3 million vehicles, Waymo's expansion approval in California, and Tesla's focus on Cybercab operations.
This week was a whirlwind of activity in the tech and auto sectors. From Pony AI Inc. reporting its Q2 results to Ferrari N.V. auctioning its first Luce EV, there was no shortage of news.
Tesla Inc. also made headlines with a massive recall in China and a focus on its Cybercab operations. Meanwhile, Alphabet Inc. subsidiary Waymo received approval for a significant expansion in California.
Pony AI’s Mixed Q2 Results
Despite reporting an adjusted loss of 10 cents per share, beating the consensus loss estimate of 27 cents, Pony AI’s stock traded lower in Tuesday’s premarket session. The company’s revenue rose 68.8% YoY to $36.22 million, driven by growth in Robotaxi and Robotruck services, but missed the $67.03 million consensus estimate.
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Ferrari’s Luce EV Fetches $40 Million at Auction
The first production Ferrari Luce, uniquely configured through Ferrari’s Tailor Made program, was sold for a whopping $40 million at the RM Sotheby’s auction in Monterey. All proceeds will be donated by Ferrari to benefit future educational initiatives through The Ferrari Foundation.
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Read Also: Waymo Eyes Uber Exit as Robotaxi Rivalry Heats Up: Report
Tesla’s Largest Recall in China
Tesla is set to recall nearly 2.98 million China-made and imported Model 3, Model Y, Model S, and Model X vehicles starting September 25. This recall, the largest Tesla has ever initiated in the market, is in response to concerns about emergency door release handles and driver-attention monitoring.
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Waymo’s Green Light for Expansion
Alphabet’s Waymo has received approval from the California Public Utilities Commission to expand its autonomous ride-hailing service across the San Francisco Bay Area and Los Angeles, and to new markets in Sacramento and San Diego. The expansion will be gradual and guided by Waymo’s safety framework.
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Tesla’s Focus on Cybercab Operations
According to JPMorgan Chase & Co., Tesla appears to be prioritizing the Cybercab over further scaling its Model Y robotaxi fleet. The EV giant expressed confidence in its ability to scale Cybercab in the near-term, with additional vehicle types expected to follow as the platform evolves.
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Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.
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