Tesla remains in focus as investors weigh regulatory risks, improving vehicle demand, and the company's growing energy and autonomy businesses.
Tesla stated that its Full Self-Driving (FSD) system did not cause the fatal Katy, Texas crash, with CEO Elon Musk and the head of Autopilot saying the vehicle experienced full accelerator input and struck at approximately 73 mph. Nevertheless, regulators continue investigating both the crash and Tesla's broader autonomous driving and robotaxi ambitions.
Despite these concerns, analysts have raised second-quarter 2026 delivery forecasts to roughly 400,000–420,000 vehicles, citing stronger sales trends in several regions and growing optimism surrounding Tesla's autonomy and robotics initiatives. However, some analysts warn that the discontinuation of the Model S and Model X could create headwinds.
In Europe, Tesla delivered strong results. The company registered 21,767 new vehicles in the European Union during May, up 152% year over year, while year-to-date registrations reached 89,180 units, a 77% increase. Tesla's EU market share rose to 2.3% in May, although the stock still declined amid concerns over the U.S. crash investigation.
Another emerging theme is the relationship between Tesla and SpaceX. Some analysts believe Tesla may increasingly trade as a proxy for SpaceX, with speculation growing about a potential merger between the two companies within the next 12 to 18 months. Supporters argue that a combined entity could benefit from greater scale across AI, robotics, energy, transportation, and space technologies.
Tesla is also expanding its energy business. The company will provide Megapack battery systems, engineering services, and Autobidder software for NatPower projects across Europe, covering more than 25 GWh of energy storage capacity in Italy and the United Kingdom. The initial phase includes five projects with estimated investments of $4 billion to $5 billion.
Meanwhile, Finland's transport authority may approve Tesla's supervised FSD system after the summer if the company provides additional information regarding driver intervention, overtaking behavior in poor visibility conditions, and speed management. Approximately 6,500 Tesla vehicles equipped with FSD are currently operating in Finland.
Overall, Tesla finds itself at a crossroads: stronger vehicle demand and expanding energy operations are supporting the growth story, while regulatory scrutiny surrounding autonomous driving remains a significant risk for the company and its shareholders.
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