Welcome in, today is Friday, October twenty-third, and we begin with Tesla, where Automotive News reports a five-million-vehicle output target set against a sharp drop in quarterly profit. Tesla's third-quarter net income fell forty-three percent from a year earlier, to seven hundred eighty-seven million dollars, according to Automotive News. Revenue was roughly flat at twenty-eight billion dollars. Against that, the same reporting has CEO Elon Musk projecting Tesla electric-vehicle output more than doubling to five million a year by twenty thirty, largely behind robotaxis and self-driving software. Musk said the company is returning to growth mode after years of, in his words, things being fairly flat. That five-million figure is a company projection rather than booked volume, which puts the growth case on software demand rather than orders in hand. Industry reaction splits on which number carries the story, with some pointing to self-driving attach rates and autonomous mileage, others to compressing operating margin and years of roughly flat vehicle sales. Also today, Bosch plans to legally separate its automotive-parts business, moving its Mobility unit into a separate wholly owned company. Automotive News, citing Bloomberg, reports the world's largest car supplier is racing to cut costs and answer intensifying competition from China. Per that reporting, there are no plans to list or sell the business. For a supplier of that scale, restructuring its largest division is a read on how parts makers are reorganizing to defend margins as Chinese rivals take European share. Industry reaction leans toward treating that pressure as structural rather than cyclical, with some observers framing Chinese share gains in Europe as a sorting mechanism legacy suppliers may not all survive. A recurring thread weighs whether speed to market or provable safety ends up deciding the shakeout, as newer end-to-end autonomy entrants compete for carmaker deals. Following our earlier report on Britain edging toward tariffs on Chinese EVs, Beijing has now put a threat on the record. Automotive News reports China threatened to retaliate if the United Kingdom implements restrictions on Chinese electric vehicles, escalating the dispute as the European Union courts Britain to join its import controls. That account carries no specifics on what countermeasures would involve, and notes Chinese exports are surging. A second front here would reset UK-bound volumes and sourcing plans. Some in the trade push back on the assumption that duties would lift prices for British buyers, arguing Chinese makers chasing share would absorb them. A recurring framing treats Britain's position as a bargaining chip, with European market access reportedly tied to aligning on China. Separately, and following our earlier report on Waymo's Toronto plans, the company is adding Madrid. Just Auto reports Waymo said testing starts in the coming days, using electric Jaguar I-PACE vehicles across Madrid's metropolitan network. Automotive World reports those vehicles will be driven manually at first, with the company aiming to carry its first Spanish riders in twenty twenty-seven. A driverless commercial service in a major European capital would give operators an early read on how EU and municipal permitting shape rollout timelines, though the date and scope rest on Waymo's own announcement. Some observers note a corporate registration in Spain foreshadowed the move months earlier, suggesting entity filings work as an early signal of where autonomous ride-hailing expands next. Now, a few more headlines moving the trade today. Visteon posted adjusted earnings of nineteen cents a share on revenue of nine hundred seventy million dollars, per Investing.com, missing forecasts on seventy-seven million in warranty charges. FCA US is recalling nearly two hundred sixty-six thousand Ram ProMaster vans, WardsAuto reports, over water intrusion that can corrode the wiring harness and disable electric steering assist. Foxconn will acquire a fifty percent stake in Mitsubishi Electric Mobility, per WardsAuto, combining electric powertrains, software, vehicle control and EV platforms. Changan has dropped its electric-only plan for Europe and launched the Deepal S zero five plug-in hybrid, Automotive News reports, as the EU prepares to cap hybrid imports from China. Campaign group T and E finds plug-in hybrids emit nearly as much carbon dioxide as combustion cars, per Automotive News, as EU lawmakers weigh a correction to how those emissions are calculated. And finally, the global light-vehicle selling rate broke its growth trend in September, falling to eighty-nine million units a year, according to Just Auto.