Recently, Tesla released its third-quarter 2026 financial report. In the quarter, Tesla's revenue was $28.046 billion, roughly flat year-over-year; net income attributable to ordinary shareholders was $787 million, down 43% year-over-year; automotive business revenue was $20.56 billion, down 3% year-over-year; the gross margin was 19.6%, up 1.6 percentage points year-over-year, with the gross margin of automotive business being 18.5%, and the gross margin of automotive business excluding regulatory credit revenue. Tesla delivered 486,500 vehicles in the third quarter, down 2.1% year-over-year but up 1.3% sequentially, above the roughly 460,000 units the market had expected. Tesla stated that it will continue to advance product development to reduce manufacturing costs, accelerate the profitability of autonomous driving software, energy business, and robot business, and continuously optimize existing production capacity, and build new production facilities. The robot Optimus has already started production at the Fremont factory. Infrastructure projects in AI computing, battery materials, and semiconductor manufacturing are proceeding according to plan. Tesla's future valuation is highly dependent on the business of Robotaxi and Optimus humanoid robot. However, Musk stated that the expected delivery time for Optimus to other companies is expected to be around the end of next year, as there is still much work to be done in AI and robotics, and it will be able to handle open-ended tasks. The humanoid robot will initially be used in industrial scenarios, and will enter the home environment when the scale is reached. Tesla plans to start the Robotaxi business in Dallas in the coming months, and the same software will be expanded to more cities. Currently, the active FSD subscription users of Tesla have reached 1.74 million, and Musk stated that today, FSD is indeed without any competitor in any car you can buy. Tesla stated that it is still actively seeking broader FSD approvals in China, and is actively cooperating with Chinese regulatory authorities. Regarding the recent merger between Tesla and SpaceX, Musk stated, "Special committees have been established to discuss this idea, which were formed at the request of shareholders, and the members are all independent directors. Due to my conflict of interest, I cannot participate in these special committees' discussions. I do not believe that we should assume that the merger of SpaceX and Tesla is a sure thing. I think that's a bit exaggerated. But do you think this is a good idea? Yes." (Translated by Autohome, Qin Chao).