Industrial supply chains and technology deployments saw notable movement across energy storage, defense, and data infrastructure. EVE Energy and Generac secured major supply and partnership deals, while Joby Aviation demonstrated autonomous cross-country flight capabilities. Conversely, Tesla faces reduced delivery forecasts from Goldman Sachs, and Uber incurred a $40 million liability settlement.
01Company specific
Joby Aviation Completes 3,100-Mile Autonomous Flight Test
Funding software development through defense logistics contracts allows dual-use autonomy developers to monetize retrofitted airframes well before commercial passenger eVTOL architectures clear regulatory certification.
Joby Aviation flew an autonomous aircraft more than 3,100 miles across the United States without human intervention, according to techcrunch.com. The cross-country trip utilized a converted Cessna Caravan equipped with Joby's autonomy technology to execute autonomous taxiing, takeoffs, navigation, and landings. The aircraft was remotely supervised from Joby's headquarters in California and Shaw Air Force Base in South Carolina while carrying a pilot for compliance. Joby plans to return the aircraft to the West Coast with stops in Louisville, Kentucky, and Salt Lake City over the next two weeks. The flight supports Joby's push into defense logistics and commercial freight transport using an autonomy stack backed by a $17 million Air Force contract with AFWERX. Joby previously acquired Resonant Sciences for $500 million in cash and stock to build out its dedicated defense business.
Generac stock surges over 40% as Amazon obtains right to buy stake
Amazon’s use of equity warrants to secure Generac’s backup generators demonstrates how hyperscalers are leveraging their balance sheets to lock in scarce data center power infrastructure.
Generac shares surged more than 40 percent in extended trading after Amazon secured warrants to buy up to 1.69 million shares of the power equipment maker. Under the agreement, Amazon will purchase backup generators for its , with initial deliveries totaling $2.4 billion scheduled across 2027 and 2028. Generac issued the warrants at $200.93 per share, representing nearly 3 percent of its outstanding shares. About 308,000 of the warrant shares vested immediately, while the remainder vests in tranches tied to generator purchases that could reach up to $8 billion in aggregate payments. The warrants remain exercisable through September 2033. Amazon continues a pattern of taking stakes in cloud and infrastructure suppliers, following similar arrangements with Qualcomm, Plug Power, and ATSG.
SK On Partners With L&F for W160 Billion LFP Cathode Material Supply
Establishing a Korean LFP cathode route allows battery makers to qualify ESS cells for US subsidies while bypassing the Chinese supply dominance that previously bottlenecked non-China production.
SK On will source 160 billion won ($117 million) of lithium iron phosphate cathode materials from L&F to build a non-Chinese for energy storage systems. The agreement runs through the end of 2028 with an for a three-year extension, and feeds production lines at SK On facilities in Seosan and Georgia. L&F will supply third-generation high-density cathode materials designed to overcome traditional energy density limits. Chinese companies currently dominate more than 90 percent of the global LFP cathode supply chain. SK On is converting existing production lines to meet rising demand, dedicating 3 gigawatt-hours of its Seosan plant capacity to ESS LFP cells starting in the first half of next year.
EVE Energy Signs 206 GWh Battery Supply Agreement with Fluence
Anchoring a massive multi-year battery allocation to a Siemens-backed integrator secures direct access to power the compute infrastructure underpinning artificial intelligence.
EVE Energy signed a framework agreement to supply 206 GWh of batteries to U.S.-based energy storage integrator Fluence between 2027 and 2031. The five-year pact includes 16 GWh of committed deliveries scheduled for 2027 alongside 190 GWh of reserved capacity for the subsequent four years. Specific product specifications, prices, and delivery schedules will be finalized through subsequent purchase orders under the framework. The deal volume reaches 1.7 times the total power and energy storage shipments EVE Energy recorded in the full year of 2025 at 121.2 GWh. The partnership connects EVE Energy to the core for energy storage through Fluence, a joint venture between Siemens and AES.
EVE Energy Supply Volume Versus 2025 Shipments (GWh)
The Fluence agreement equals 1.7 times the company's full-year 2025 shipments.
Almonty Signs Deal to Supply Sandvik with Tungsten from Spanish Mine
Monetizing mine tailings via take-or-pay offtake rights creates a low-capital blueprint for securing non-Chinese tungsten supply without incurring conventional open-pit extraction costs.
Almonty Industries entered into a long-term supply agreement with Wolfram Bergbau und Hütten AG, a subsidiary of the Sandvik Group, to provide tungsten concentrate from the retreatment of existing tailings at the Los Santos Mine in western Spain. The deal covers a minimum of approximately 1,720 t of contained WO3 and includes a conditional $3 million upfront payment for offtake rights under a take-or-pay structure. Los Santos has been on care and maintenance since February 2020 following the depletion of its primary resource. Almonty plans to restart production by processing the mine tailings inventory rather than undertaking conventional open-pit extraction, utilizing newly developed technology to improve recovery rates. For Sandvik, the arrangement secures a non-Chinese, European Union-origin source of tungsten feed for smelting operations in Austria. The project aims to deliver material faster than developing a traditional mine while sharing the financial requirements of reactivating the site.
Uber to Pay $40 Million Settlement Over Fatal Pedestrian Collision
Arbitration rulings that reject platform-only defenses erode gig-economy labor arbitrage, exposing ride-hailing models to vicarious liability costs previously borne entirely by independent contractors.
Uber was ordered to pay $40 million to the parents of a 23-year-old woman who was struck and killed on a southern California highway after her driver ordered her and a friend out of the car. Arbitrator Richard Stone rejected Uber's defense that it operates merely as a technology platform connecting riders with independent third-party drivers, finding the company vicariously liable for the driver's negligence. In August 2023, driver Vu Tran pulled over in a gore point along Route 73 in Orange County following an argument over a cleaning fee, leaving the intoxicated passengers outside the vehicle before Emily Normandin-Parker was hit by traffic. Stone concluded that Tran needlessly placed the passengers in danger and abandoned them in an unsafe spot. Uber disagreed with the ruling, stating the arbitrator was wrong to hold the company legally responsible while noting it continues to invest in safety policies and . The arbitration decision does not establish legal precedent, though it challenges the company's efforts to distance itself from driver actions under California's independent contractor rules. The parents established the Emily Normandin-Parker Foundation to fund scholarships, mentorships, and LGBTQ+ organizations using the settlement funds.
Settlement Payout by Parent ($M)
The $40 million award is split evenly between both parents.
Goldman Sachs Cuts Tesla Q3 Delivery Estimates on Weak Sales
Relying on Shanghai-driven export growth to counter multi-regional retail demand declines tests whether geographic arbitrage can preserve Tesla's delivery momentum through broad EV adoption slowdowns.
Goldman Sachs lowered its third-quarter delivery forecast for Tesla to 435,000 vehicles from 490,000, citing softening sales across the United States, China, and Europe. Analyst Mark Delaney maintained a neutral rating and a $360 price target on the stock. The new projection sits below the Visible consensus estimate of 456,000 vehicles. Tesla sold an estimated 40,816 vehicles in the U.S. in August, marking a 26 percent decline from 55,500 a year earlier when buyers rushed to claim the federal electric vehicle tax credit before its expiration. Chinese fell 12.4 percent year over year to 50,047 vehicles in the same month. Goldman expects growth in export markets supplied by the Shanghai factory to partially offset the domestic downturn.
Tesla Deliveries (vehicles)
Goldman expects Q3 deliveries to drop below Q1 and Q2 levels
Heavy investments in energy storage and autonomous systems show strong corporate commitment to long-term infrastructure. However, immediate legal liabilities and softening consumer vehicle demand leave near-term revenue growth across the broader transport sector unresolved.
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