US Autos & Industrial Tech: 5 days in 5 minutes

研报英文原文证据摘录

US Autos & Industrial Tech: 5 days in 5 minutes

Equity Research

10 July 2026 | 3:21PM EDT

We provide brief high level thoughts on key news and events from the last week in Mark Delaney, CFA

+1(212)357-0535 |

this note. Highlights included: mark.delaney@gs.com

Goldman Sachs & Co. LLC

n Autos - 1) Ford and Micron signed a strategic agreement for memory supply; 2) Will Bryant

+1(212)934-4705 | will.bryant@gs.com

Tesla filed for a new variant of the Model Y in China; 3) Toyota is investing in US Goldman Sachs & Co. LLC

manufacturing; and 4) The EPA is proposing easing of heavy-truck emissions Aman Gupta

+1(212)357-1549 |

rules. aman.s.gupta@gs.com Goldman Sachs & Co. LLC

n Industrial Tech - 1) Flex announced an expanded manufacturing agreement Ayush Ghose

+1(212)902-7257 |

with Cerebras. ayush.ghose@gs.com

n Autonomy & Physical AI - 1) Tesla launched its robotaxi in Miami; 2) Waymo

announced upcoming launches in 4 cities; 3) NHTSA called on AV companies to

address interactions with first responders; 4) 1X provided details on the hand

for its Neo humanoid; and 5) Xpeng started employee testing for its robotaxi

and is exploring global robotaxi partnerships.

Key questions from investors this week related to: 1) the set up for stocks into 2Q

earnings, and, as we discussed in our 2Q preview, we expect better than consensus

results/guidance from our industrial tech coverage with autos more in line. Around

the quarter tactically, we’re more positive on APH and BWA, but we expect higher

costs over the next few years to weigh on MBLY Street estimates; 2) Rivian’s

outlook, including the R2 ramp and balance sheet/cash flow post the recently

completed equity raise.

We also look at industry data points including China retail auto sales, and US auto