Tesla said Wednesday that its robotaxi fleet has logged more than 380,000 unsupervised miles across six cities in two states without what the company described as a “notable” safety incident.

Ashok Elluswamy, Tesla’s vice president of AI software, highlighted the fleet’s safety record during the electric vehicle maker’s second-quarter earnings call, telling investors it had recorded “zero notable incidents.”

Any reported incidents involved “other actors impacting us when we were stationary,” Elluswamy said.

“I’d like to emphasize how safe the operation has been so far,” Elluswamy said. “Zero notable incidents over 380,000 miles.”

MUSK SAYS TESLA, SPACEX TO BUILD ADVANCED CHIP MANUFACTURING FACILITY

A Tesla robotaxi travels along South Congress Avenue in Austin, Texas, June 22, 2025. Tesla said that its robotaxi fleet has logged more than 380,000 unsupervised miles across six cities in two states without what the company described as a “notable” (Reuters/Joel Angel Juarez / Reuters)

Elluswamy said the results support Tesla’s camera-based approach to autonomous driving.

“Historically, the so-called experts have always claimed that you need lidars, radars, HD maps and the entire kitchen sink to drive safely,” he said. “Here, we show that such is not true. You can have safe, comfortable and affordable autonomy with just cameras.”

Tesla said mileage traveled by its unsupervised robotaxi fleet has grown at a double-digit weekly rate for months.

“We have grown at such a high compounding rate on a week-over-week basis over the last several months,” Elluswamy said. “Not only that, we expect to continue growing at such a large rate through the rest of this year.”

ELON MUSK REVEALS PRICE OF TESLA’S CYBERCAB

A Tesla robotaxi operates on South Congress Avenue in Austin, Texas, on June 22, 2025.  (Reuters/Joel Angel Juarez / Reuters)

The remarks came one day after Tesla expanded its robotaxi service to Orlando and Tampa, according to Reuters.

Tesla launched the service in Austin in June 2025, initially placing safety monitors inside the vehicles. 

It later began offering fully unsupervised rides in Austin and expanded the service to Dallas, Houston and Miami, Reuters reported.

SELF-DRIVING CAR COMPANIES WAYMO, TESLA TO TESTIFY AT KEY SENATE COMMITTEE ON REGULATING GROWING INDUSTRY

Passengers exit a Waymo self-driving car, Dec. 26, 2025, in San Francisco. Unlike Waymo, which uses lidar sensors, Tesla relies mainly on cameras and AI software. (John J. Kim/Chicago Tribune/Tribune News Service via Getty Images / Getty Images)

Unlike Waymo, which uses “light detection and ranging” or “lidar” sensors, Tesla relies mainly on cameras and AI software, according to the outlet.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“We expect that the time to launch to a new city will continue to trend towards zero, towards an end where we operate in entire states as a whole, instead of going city by city,” Elluswamy added.

Tesla could not immediately be reached by FOX Business for comment.

Reuters contributed to this report.

Jaguar Land Rover is recalling more than 15,000 vehicles over an issue that could affect the rearview camera, which could limit the driver’s rear visibility while reversing, according to federal regulators.

A total of 15,535 vehicles are potentially affected by the recall, covering 2021-2025 Land Rover Discovery models, the National Highway Traffic Safety Administration (NHTSA) said in its recall notice.

The NHTSA said that “insufficient drain holes” could prevent water from draining properly, damaging the rearview camera and increasing the risk of a crash.

FORD RECALLS NEARLY 388,000 VEHICLES OVER SECOND-ROW SEAT INJURY HAZARD

A total of 15,535 vehicles are potentially affected by the recall. (Getty Images / Getty Images)

“Water may not be able to drain away from the rearview camera due to insufficient drain holes, which may result in damage to the rearview camera,” the agency said.

“A water-damaged camera may not display an image, or may display an unclear image, when requested to do so,” the notice reads.

Jaguar Land Rover has received 100 U.S. claims and field reports related to the issue. No related crashes, injuries or fires have been reported.

The NHTSA said that “insufficient drain holes” could prevent water from draining properly. (Getty Images / Getty Images)

Car owners are instructed to take their vehicles to a dealership for inspection, where the camera will be replaced at no cost if necessary.

Dealers will also drill additional drain holes in the underside of the tailgate trim.

BMW RECALLS NEARLY 30K VEHICLES OVER ENGINE STARTER DEFECT THAT COULD CAUSE FIRE

Car owners are instructed to take their vehicles to a dealership for inspection, where the camera will be replaced at no cost if necessary. (Getty Images / Getty Images)

CLICK HERE TO GET FOX BUSINESS ON THE GO

Owner notification letters are expected to be mailed on or before September 11.

The ONS reported that consumer price index inflation stood at 2.6 per cent

Inflation has remained stubbornly above the Bank of England’s target rate, despite government pledges to address the cost of living crisis.

The Office for National Statistics reported that consumer price index (CPI) inflation stood at 2.6 per cent in the year to June. Analysts had forecast price growth of 2.7 per cent, below the 2.8 per cent recorded in May.

Core CPI inflation, which excludes volatile food and energy prices, also came in at 2.6 per cent.

The latest price growth figures highlight the UK government’s ongoing struggle to bring inflation in line with the Bank of England’s two per cent target.

Most City analysts and the Bank itself expect price growth to creep back towards three per cent later this year, as reported by City AM.

Business tax increases following Rachel Reeves’ debut Budget, combined with disruption to vital oil trade flows caused by the blocking of the Strait of Hormuz amid the Iran conflict, have unsettled the UK economy and left households vulnerable to steeper price rises.

Prior to her departure from government, Reeves unveiled a summer savings package comprising subsidies for children’s meals and travel, alongside a continued freeze on fuel duty beyond September. Analysts indicated the measures would help soften the blow of the inflation shock.

Since Andy Burnham entered Downing Street with John Healey serving as Chancellor, ministers have been pushing to “reprioritise” public spending in order to ease cost of living pressures. Burnham announced that VAT would be removed from household electricity bills from October this year, a move that could shave around 0.1 percentage points off inflation.

The Prime Minister has pledged to introduce a range of additional policies aimed at easing the financial burden on households.

However, the country’s seventh leader in 10 years has already faced criticism over making “unfunded” promises. Darren Jones, who served as Sir Keir Starmer’s chief secretary, took aim at Burnham for claiming that scrapping the digital ID scheme would foot the bill for the energy tax cut.

Bank of England officials are likely to scrutinise Burnham’s proposals closely, as well as his response to the energy price shock triggered by the Iran war.

The Bank is widely anticipated to hold interest rates at 3.75 per cent at its forthcoming meeting on 30 July.

Short-term gilt yields indicate that markets are pricing in at least two interest rate rises as the UK continues to grapple with persistently high inflation.

In the early nineties I used to go to the dogs at Walthamstow and I met a man called Terry, who sold tips in brown envelopes for a fiver a time.

He had a sheepskin coat, a biro behind each ear, and the unshakeable confidence of a man who had once, in 1987, correctly predicted six winners in a row.

Terry’s genius was not knowing which dog would win. Terry’s genius was understanding that a queue will always form behind anyone who claims to know first. The envelope was nonsense, but the fiver was real, and the queue never got shorter.

I thought of Terry last week when Trump Media announced something called Truth API. For those who missed it, this is a paid data feed that will deliver posts from Truth Social’s ten most influential accounts, up to and including the President of the United States, to banks and trading firms milliseconds before the rest of humanity gets the push notification. The pitch price, according to reporting on the proposed subscription fees, is up to $100,000 a month, with a discount if you sign for three years, like a gym membership for market manipulation.

Let us be clear about what is being sold here. Donald Trump’s posts move markets. A stray capitalised sentence about tariffs can vaporise billions from the S&P before the man has finished his breakfast. And the company he founded, in which his family trust holds a controlling stake, now proposes to sell early sight of those market-moving pronouncements to the highest-frequency bidder, with the whole apparatus set to go live for institutional customers in August.

This is Terry’s envelope, except Terry now owns the dog, owns the track, decides when the hare starts running, and has a seat in the Royal Box of the government that regulates greyhound racing. If I had described this arrangement to you ten years ago you would have assumed it was a rejected plotline from Succession, and a bit on the nose at that.

And here is the part that genuinely frightens me. It is not the scheme itself, brazen as it is. It is the silence. The prospect of a sitting president’s company charging Wall Street for advance access to his own policy signals has raised what the ethics experts politely call serious concerns about conflicts of interest, and then everyone has moved briskly on to the next outrage. No congressional uproar. No emergency hearing. Not even a strongly worded letter, and Washington produces strongly worded letters the way Cornwall produces pasties. A shrug, a news cycle, gone.

We have arrived, with remarkable speed, at a place where one of the most powerful men on earth can do more or less anything, and the response of the institutions built to challenge him is a weary rustle of papers.

I wrote last year, after seeing George Clooney’s Broadway revival, about the slow death of the fourth estate, and I confess I worried at the time that I was over-egging it. I was not. Since then CBS has cancelled its most-watched satirist to keep the White House sweet, a story I covered when Colbert took his final bow, and marched Scott Pelley out of 60 Minutes for the crime of doing journalism. The watchdog has not fallen asleep. It has been taken to the vet and quietly put down.

Business readers will recognise the principle being shredded here, because British companies live under it every day. It is the level informational playing field. Any UK plc with market-moving news must release it through a regulated news service, to every investor, at the same second. Brief your mates in the City first and the FCA will want a word, and possibly your liberty. We built that regime because markets run on trust, and trust runs on the belief that nobody with power is selling the answers out of the back door.

That belief is the actual product. Not the shares, not the bonds. The belief. It is why a pension fund in Leeds will buy American assets at all, and why capital stays cheap enough for the rest of us to borrow. Price the belief away at $100,000 a month and everyone pays, in wider spreads, higher risk premiums and the corrosive suspicion that the game is rigged because, demonstrably, it now is. And when trust gets expensive, it is never the hedge funds who pick up the bill. It is the small firms at the bottom of the capital food chain, which is to say, most of my readers.

Insider trading is a crime because information and power must not be allowed to marry. This scheme is the wedding, the reception and the honeymoon, conducted in public, with a card machine at the door.

Terry, at least, had the decency to seal the envelope. And to my knowledge he never once owned the dog.

Richard Alvin

Richard Alvin is a serial entrepreneur, a former advisor to the UK Government about small business and an Honorary Teaching Fellow on Business at Lancaster University.

A winner of the London Chamber of Commerce Business Person of the year and Freeman of the City of London for his services to business and charity. Richard is also Group MD of Capital Business Media and SME business research company Trends Research, regarded as one of the UK’s leading experts in the SME sector and an active angel investor and advisor to new start companies.

Richard is also the host of Save Our Business the U.S. based business advice television show.

NEW YORK — The Dow Jones Industrial Average opened modestly higher Wednesday morning, building on the previous session’s gains as investors braced for closely watched earnings reports from Alphabet and Tesla after the market close, while rising oil prices and ongoing tariff developments remained in focus.

The blue-chip index stood at 52,320.56 as of 9:37 a.m. Eastern time, up 95.92 points, or 0.18%, on the day. The modest advance came a day after the Dow logged a stronger gain, rising 385.38 points, or 0.74%, to close Tuesday at 52,224.64.

A mixed setup heading into Wednesday

Wednesday’s session opened under a somewhat cautious tone compared with Tuesday’s broad rally. Futures on the Dow and S&P 500 had slipped modestly ahead of the opening bell, down 0.1% and 0.2%, respectively, while Nasdaq-100 futures fell further, down about 0.6%, as investors positioned themselves ahead of earnings from two of the market’s most closely watched companies.

Alphabet and Tesla are both scheduled to report second-quarter results after Wednesday’s closing bell, with investors looking for signals on whether continued heavy spending on artificial intelligence infrastructure by major technology companies is beginning to translate into returns. Shares of Alphabet slipped in premarket trading ahead of the report, falling roughly 1.4%.

Tuesday’s rally, by the numbers

Tuesday’s session marked a strong rebound for U.S. equities, with all three major indexes snapping three-day losing streaks. The S&P 500 rose 0.89% to close at 7,509.20, while the Nasdaq Composite jumped 1.29% to finish at 25,837.21, led by strength in semiconductor stocks. Chip giant Nvidia climbed nearly 2% after revealing a stake in cloud computing provider Nebius, whose shares surged roughly 18.8% on the news.

Corporate earnings also played a role in Tuesday’s advance. Industrial conglomerate 3M saw its shares jump more than 7% after posting stronger-than-expected second-quarter results, while General Motors shares rose nearly 5% after beating both revenue and profit estimates. According to data from FactSet, roughly 88% of the 66 S&P 500 companies that had reported earnings by Tuesday had topped Wall Street’s bottom-line estimates, extending a strong start to the earnings season.

What analysts are watching

Market strategists have pointed to the current earnings season as a pivotal stretch for determining the market’s direction through the rest of the year. Bret Kenwell, U.S. investment analyst at eToro, said the coming weeks would be closely scrutinized across multiple sectors, not just technology. “The next two weeks will be a defining stretch for earnings, and not just for tech,” Kenwell said. “The broader message is already clear: companies that fail to clear Wall Street’s elevated bar are being punished.”

Other strategists have expressed some caution about how much further the current earnings-driven rally can run. Sam Stovall, chief investment strategist at CFRA Research, noted that while earnings growth expectations have continued to climb, reaching roughly 25% for the quarter according to FactSet data, that pace of improvement may not be sustainable. “Investors are basically saying, ‘If we are now starting to be on the leeward side of this earnings mountain, the best is likely behind us,’” Stovall said. “They’re taking a wait-and-see attitude because they want to hear what Nvidia, AMD and all” the other major technology names report in the weeks ahead.

Oil prices and geopolitical risk

Beyond corporate earnings, rising oil prices have added a layer of caution to trading this week, driven in part by escalating tensions between the U.S. and Iran along with broader instability in the Middle East. Higher energy costs have historically weighed on investor sentiment by raising input costs across multiple sectors of the economy, and Wednesday’s session saw that dynamic continue to factor into trading decisions.

Fresh U.S. tariffs, including a recently imposed levy on Canadian goods, have also remained a point of focus for investors monitoring the potential impact on corporate supply chains and international trade relationships heading into the back half of the year.

Global market context

U.S. markets were not alone in showing a cautious tone Wednesday. South Korea’s Kospi index and other technology-heavy gauges across Asia trimmed early-session gains as the day progressed, while the technology sector lagged noticeably in Europe’s Stoxx 600 index. Nasdaq 100 futures, which had climbed over a two-day rebound heading into Wednesday, saw that stretch pause as traders awaited the outcome of Wednesday’s earnings reports.

Looking ahead

With Alphabet and Tesla both reporting after Wednesday’s close, investors are likely to see renewed volatility in after-hours and Thursday morning trading depending on how the results compare with Wall Street’s expectations. Additional high-profile earnings reports are expected later in the week from companies including IBM, adding to what analysts have described as one of the most consequential stretches of the current earnings season.

For now, the Dow’s modest Wednesday morning gain reflects a market in a holding pattern, with investors weighing strong recent corporate results against broader questions about the durability of AI-driven spending, the trajectory of oil prices, and the potential economic impact of ongoing tariff policy, all while waiting for after-hours earnings reports to help clarify the path forward.