Inside the Model Focus on Autos & Industrial Tech

Equity Research 27 July 2026 | 5:00AM EDT

Inside the Model: Focus on Autos & Industrial Tech

James Covello | Goldman Sachs & Co. LLC Visit the GS Research portal to listen to the podcast > Mark Delaney, CFA | Goldman Sachs & Co. LLC

In this podcast series, Inside the Model, we sit down with our industry-expert analysts Steven Kron | to dig into fundamental drivers of revenue and profitability, and that ultimately drive Goldman Sachs & Co. LLC

stock performance across a range of sectors. This week, we sit down with Mark Chris Hussey | Delaney to dig into the Electric Vehicle and Autonomous Vehicle markets, how we’re Goldman Sachs & Co. LLC thinking about growth and the economics of both relative to traditional internal combustion engines, size the opportunity in the US, and then dive deep into what Sarah Herr | Goldman Sachs & Co. LLC matters most for Tesla (TSLA) – plus, how we think about all of this in an AI world.

See below for the full list of topics and speakers; approximate start times are in parentheses.

Speaker: n Mark Delaney – Autos & Industrial Tech Research

Moderator: n Jim Covello – Head of Global Equity Research

Topics: n (0:56) Forecasting EV Growth

n (10:07) Sizing the AV & Robotaxi Opportunity n (15:41) Focus on Tesla (TSLA): AVs & Robotaxis n (21:17) Capex, Compute & Growth Ahead

Related Research: n Jul-22: “Tesla Inc. (TSLA): Business and technical progress in key markets, and costs of investments, remain in focus; 2Q wrap” n Jul-2: “US Autos & Industrial Tech: Tesla and Rivian 2Q26 vehicle deliveries well above consensus” n Jun-23: “Global Autos: Clear sign of re-electrification; updating the GS Electric

Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by non-US affiliates are not registered/qualified as research analysts with FINRA in the U.S.

Goldman Sachs Inside the Model

Vehicle Sentiment Map” n Jun-10: “Platforms & Power Part III - Datacenter demand extending further into the auto & industrial tech supply chain” n Jun-1: “US AVs: Robotaxi Tracker - Deployments update and key safety and usage metrics” n Apr-16: “Global AVs: Analyzing the impact of AI on profit pools - Part II - A Transportation Case Study” n Mar-16: “US Autos & Industrial Tech: Key takeaways from Physical AI field trip including TSLA, RIVN and AUR” n Oct-14-25: “Platforms & Power - Part II: Humanoids and profit implications for autos & industrial tech” n Jun-9-25: “AVs: Framing profit pools in rideshare, trucking, and insurance as AVs move from concept to commercialization”

Related Podcasts: n Jul-20: “Research Unplugged: Data Centers, Power Demand & the Case for Cooling Technology” n Apr-20: “Research Unplugged: AI & Profit Pools II: Autonomous Vehicles Deep Dive” n Mar-24: “Research Unplugged: Robots & AVs: Key Takeaways from our Physical AI Field Trip” n Mar-5: “On the Road with Goldman Sachs: Cruising the Lincoln Highway - Healthcare, Cars & Data Centers”

Previous Editions: n Jul-20: “Inside the Model: Focus on Regional Banks & Consumer Finance”

n Jul-13: “Inside the Model: Focus on Consumer Staples” n Jul-6: “Inside the Model: Focus on Semiconductors” n Jun-29: “Inside the Model: Focus on Payments & FinTech”

Click “here” for all previous editions of “Inside the Model”

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