News
Tesla co-founder unveils electric garbage truck
The global transition from combustion engine to all-electric vehicle continues to move into new sectors as Wrightspeed has just released its first fleet of range-extended electric refuse trucks. The powertrain represents a new era in vehicle propulsion, repowering a generation of lighter, quieter, and more efficient vehicle fleets for urban streets.
Wrightspeed’s commercial application of the range-extended, turbine-electric powertrain is the heavy-duty Class 8 Freightliner, which will be delivered to The Ratto Group, a Sonoma County solid waste collection and recycling business. The Class 8 Freightliner is the first of at least fifteen electric vehicles that will be integrated into the trash company’s fleet over the next year, according to Tim Dummer, Wrightspeed’s chief business officer. Dummer, an engineering and commercialization executive, was brought into Wrightspeed in October, 2016 as part of the company’s ramp-up of its Range-extended Electric Vehicle (REV) powertrain systems.
Called The Route™, Wrightspeed’s REV powertrain is optimized for the refuse industry and can be customized to fit a variety of today’s heavy-duty truck platforms, replacing both the engine and the transmission. Much of the growing demand for the award-winning The Route is due to Wrightspeed’s founder, Ian Wright, one of the original co-founders of Tesla Motors. After his departure from Tesla Motors in 2003, Wright had a vision that electric vehicles could deliver high-performance without compromising intrinsic efficiency. Using turbines and applying electric vehicle principles to urban, heavy-duty trucks, The Route powertrain was the result.
The Wrightspeed system can power a 66,000-pound GVW truck, delivering up to 24 miles on battery power before the range extender kicks in. After that, range is nearly unlimited as long as there is fuel for the turbine. With fuel efficiency the equivalent of up to 7 mpg in combined electricity-liquid fuel operation, the powertrain can slash annual fuel consumption by 70 percent or more compared with the average diesel refuse truck. CEO Lou Ratto says he expects a fuel savings of at least 50 percent.
Eventually, all of Ratto’s 130 residential trash and recycling trucks may be retrofitted with the turbine-electric powertrain. This is an ambitious undertaking, as a refuse truck’s demanding duty cycle drains an electric powertrain’s batteries quickly. Think start, then stop. Start, stop. Wrightspeed’s electric powertrain drives more low-end torque to the wheels than conventional diesel engines, with less fuel, emissions, and noise.
Wrightspeed, in a sense, is recycling Ratto’s trash collection trucks. The Wrightspeed/ Ratto contract is thought to be in the range of $3 million to $5 million.
A new refuse truck that meets all California air quality standards costs more than $500,000, so Wrightspeed’s retrofit of Ratto’s existing trucks makes the system more cost-effective, Van Amburg relates. Sonoma County officials like the trash fleet electrification program because they see it as a means of improving local air quality, says Efren Carrillo, chairman of the Sonoma County Board of Supervisors. Ratto concurs. “Here in Sonoma County there is a lot of environmental consciousness, and we are always looking for ways to be cleaner, environmentally friendly, and help the bottom line. And the idea that [by electrifying the trucks] we can do this and get off the air quality rollercoaster and stop battling to meet California emissions requirements— that makes it all worthwhile.”
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ALSO SEE: The Tesla Semi will shake the trucking industry to its roots
Wrightspeed featured its powertrain technology alongside Mack Trucks at Waste Expo 2016 in Las Vegas and signed a $30+ million agreement with NZ Bus, symbolizing multinational and multimodal demand for Wrightspeed’s powertrain technology. In June, the company was named a Technology Pioneer by the World Economic Forum (WEF), and CEO Wright was an invited presenter to the International Business Council of the World Economic Forum. He will be a keynote speaker at the upcoming SAE 2016 Range Extenders for Electric Vehicles Symposium in Knoxville, 2-3 November, 2016.
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Investor's Corner
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX revealed a new Nvidia satellite partnership, then Musk pledged an exclusive Nvidia hardware commitment.
SpaceX and Nvidia are now working together on the hardware that will power Musk’s orbital data center ambitions. SpaceX announced on X on Tuesday that it is partnering with Nvidia to design the compute payload for Starmind AI1, the first satellite in a planned constellation built to run AI workloads directly in orbit. Each Starmind satellite will carry Nvidia’s Rubin GPUs and Vera CPUs, according to the post, which included renderings of the payload design.
The announcement landed hours before SpaceX’s first earnings call as a public company, where Musk went further, saying the company has committed to building its AI infrastructure exclusively on Nvidia hardware. “We think the Vera Rubin architecture is the best architecture. We think it’s the best AI computer, and we greatly value our close cooperation and partnership on many levels with Nvidia,” Musk told investors on the call,. “So we’re exclusive to Nvidia.”
Musk said SpaceX plans to deploy Nvidia’s Vera Rubin NVL72 rackscale system, codenamed Kyber, both on the ground and in space. He set a target of 2 gigawatts of compute capacity online by the end of this year, scaling to roughly 10 gigawatts by the end of 2027.
SpaceX’s newest Starmind will make earth data centers obsolete
Starmind has been in development since Musk confirmed the name in June, following an xAI trademark filing that tipped off the project before SpaceX made it official. The idea is massive in scope and instead of moving data down to ground based servers, satellites equipped with onboard processors and large solar arrays would compute AI workloads in orbit and beam results back to Earth. SpaceX has already filed with the FCC for a constellation of up to one million satellites to support the effort, citing constant solar power and the absence of zoning restrictions as advantages over terrestrial data centers.
The Nvidia exclusivity marks a shift in tone from just two weeks ago, when Musk was busy knocking down a report that SpaceX had ordered $52 billion worth of Nvidia GPUs through Foxconn, calling it fake news at the time. The dollar figure in that rumor may have been wrong, but the underlying direction seems correct. SpaceX’s AI division already leases Colossus compute capacity to Anthropic and Google, and Tuesday’s earnings report showed AI revenue climbing sharply as those deals ramp up.
Nvidia shares rose roughly 3% in Tuesday trading on the news, while SpaceX stock climbed nearly 9% during the day before giving back gains after hours as investors digested the earnings report’s capital spending figures.
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SpaceX (NASDAQ: SPCX) reported a beat in revenues and EBITDA in its first earnings call report while also minimizing losses as its business continues to gain momentum.
After its IPO in July, SpaceX saw some tough losses on Wall Street due to a major selloff after a delay in its 13th Starship test flight. The ship launched later that week and completed what was arguably the most successful IFT operation in the Starship program’s history.
Nevertheless, the company is continuing on and reported some encouraging financials while also promoting what appears to be a robust outlook moving forward in its Space, AI, and Connectivity divisions.
SpaceX to report first-ever earnings today: here’s what to expect
Earnings Results
- Revenues: $7.8 billion reported vs. $6.7 billion expected
- Adjusted EBITDA: $3.5 billion vs. $2 billion expected
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
Additionally, CFO Bret Johnsen had these comments:
“2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX. Revenue growth accelerated across all our business segments and we delivered strong operating leverage, with significant margin expansion led by our new AI compute agreements. Our unparalleled leadership in launch, Starlink subscriber growth, new enterprise and government partnerships, and best-in-class AI infrastructure underscore our ability to drive meaningful scale and deliver attractive returns. As a newly public company, we are delighted to welcome our broad base of shareholders and bondholders. We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog. This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework.”
Space Business Highlights
SpaceX shared some of its biggest Space Business Highlights for Q2:
- Space revenues grew 55% sequentially and 29% year-over-year to $962 million, driven by a higher number of large customer launches and a favorable customer shift compared to the prior year
- Total costs and expenses for the Space segment were up by $389 million year-over-year, as we continued to accelerate R&D investments in our Starship program, which we believe will reduce the cost to orbit by 99% or more relative to the historical average, and unlock significant revenue potential across all business segments
- Leading launch provider for the world with 78 launches and 1,041 metric tons of mass to orbit deployed over the six months ended June 30, 2026, primarily allocated to Connectivity for the deployment of our Starlink constellation
- Starship V3 development continued to advance towards full and rapid reusability:
- Completed Starship V3’s first suborbital mission in May, Flight 12, which achieved a successful lift off from our new Starbase pad, a precision landing of Starship’s upper stage, and deployment of modified V2 Starlink satellites
- Subsequent to the second quarter, completed Starship Flight 13 in July, which achieved all flight objectives including deploying 20 production V3 satellites, demonstrating in-space relight of a Raptor engine, and executing the softest ever splashdown of Starship, providing critical views of an intact heatshield
SpaceX will report its earnings today at 4:30 P.M. EDT.
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Elon Musk issued a second pointed warning to SpaceX short sellers on Tuesday, just hours before the company was set to release its first quarterly earnings as a publicly traded firm. Responding to a report highlighting elevated short interest, Musk wrote on X: “I try to warn them, but they just double down …”
The comment came as data from S3 Partners showed roughly 95 percent of available SPCX shares to borrow were on loan, translating to about 34 percent short interest as a percentage of the float. The stock has traded under pressure since its record-breaking IPO in June 2026, declining significantly from early peaks.
I try to warn them, but they just double down … 🤷♂️
— Elon Musk (@elonmusk) August 4, 2026
This marks the second such message from Musk in under three weeks.
On July 17, amid post-IPO volatility, he stated: “The survival probability of firms who maintain a significant short position in SpaceX over time is very low.” At that time, SPCX had fallen roughly 30 percent from its peak above a $2.6 trillion valuation, with short sellers reportedly realizing gains of about $8.7 billion.
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Musk’s warning aligned with optimistic analyses projecting that Starship-driven cost reductions could enable a multi-trillion-dollar space economy through applications such as orbital solar power, asteroid mining, data centers, and Mars-related projects, positioning SpaceX as critical infrastructure.
SpaceX is scheduled to report second-quarter results after the market close later today, followed by a webcast. Analysts anticipate revenue near $6.9 billion, reflecting growth in Starlink, launch services, and AI-related segments. The earnings release precedes a major lockup expiration on August 6 that could free hundreds of millions of insider shares.
Musk has a long track record of confronting short sellers, particularly regarding Tesla, where he has argued that persistent bearish positions underestimate transformative technologies. Critics view his optimism as overly ambitious given near-term stock fluctuations, while supporters see temporary dips as opportunities in a longer-term expansion of the space economy.
As SpaceX opens its books to public scrutiny for the first time, the high short interest and Musk’s repeated cautions set the stage for heightened market attention on the results and management’s commentary.
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX reports beat in first earnings while minimizing losses
