University of Houston to install nanotech-coated air filters on campus to prevent COVID-19 spread

who's house

UH is investing in a nanotechnology developed on its own campus that can help prevent the spread of COVID-19. Photo courtesy of University of Houston

A nanotechnology developed at the University of Houston is about to make a big difference right on campus.

UH's Facilities/Construction Management Preventive Maintenance team is working on a project that will install air filters that are nanocoated with a material that was first developed at the UH Technology Bridge. UH Professor of Physics Seamus Curran has an extensive background in nanotech, and, as he learned more about COVID-19 and how it spreads, he started nano-coating facemasks to make them more resistant to the small particles that enable the spread of the virus.

Originally developed for the construction business, Curran's coating material could also be used to create hydrophobic facemasks, Curran discovered, and he founded a spin off company, Curran Biotech, to develop his next pandemic-proof innovation: nano-coated air filters.

"The big thing for me when we were shut down was that people couldn't go to work or school. The country can't live that way — but you can't send people back to work in a world that's not safe," Curran said last October in an interview for the Houston Innovators Podcast. "How do you create a safer environment? That's the thing that really got me going in the beginning in the summer. We looked at filters."

Listen to Professor Curran on the Houston Innovators Podcast:

Curran, who says he's learned more about air filters than he ever cared to, realized that even the most expensive air filters can only protect from 10 to 25 percent of viruses. And most buildings' HVAC systems would have to be replaced completely to allow for these pricier, more protective filters. But Curran Biotech's Capture Coating can be used on existing filters and HVAC systems.

Air filters coated with Curran Biotech's sealant were then tested at the New York Family Court Building, by DCAS-Energy Management Division, and now, ahead of the fall semester, UH is implementing the innovation in all buildings that have less than MERV-13 rated filters.

Curran Biotech's sealant can be used on existing air filters and HVAC systems. Photo via UH.edu

This week's innovators to know in Houston includes Tim Neal of GoExpedi, Shay Curran of UH, and Arun Gir of iEducate. Photos courtesy

3 Houston innovators to know this week

Who's who

Editor's note: In today's Monday roundup of Houston innovators, I'm introducing you to three gentlemen representing a diverse set of industries — from nanotech and higher education to industrial e-commerce and education.

Tim Neal, CEO of GoExpedi

Tim Neal, CEO of Houston-based GoExpedi, shares how his company plans to scale following its recent series C closing. Photo by Colt Melrose for GoExpedi

Timing is everything, and Tim Neal says it's been a key factor in his company's success. GoExpedi acts as an Amazon of industrial business, basically. Just as the e-commerce platform has made online ordering easy, trackable, and fast, so has GoExpedi for industrial parts. And, thanks to companies like Amazon and on-demand ordering in general, this type of fast and reliable service is what everyone expects now.

"The labor pool in the oil and gas space in particular — 50 percent of it turn it over. Now you're no longer having these tradesmen who are 60-plus years old and walking encyclopedias. You have a younger workforce that's used to buying on eCommerce and their daily life. So, it's helping them by technical parts in a not technical way," Neal says in a Q&A with InnovationMap. "We just had a pool of clients who were more tech native and who had more familiarity with transacting online." Click here to read more.

Seamus Curran, CEO and founder of Integricote

University of Houston professor and entrepreneur, Seamus Curran, has pivoted amid the pandemic to use his nanotechnology expertise to help reduce the spread of COVID-19. Photo courtesy of Integricote

Seamus Curran's life went from juggling teaching, research, and running his startup from early morning to late at night every day to working and teaching from home when the pandemic hit. He started looking into the virus and realized his nanotechnology actually has a real application in protecting people. First, he started coating masks. Lately he's been working on a new line of protection.

"The big thing for me when we were shut down was that people couldn't go to work or school. The country can't live that way — but you can't send people back to work in a world that's not safe," Curran says in this week's episode of the Houston Innovators Podcast. "How do you create a safer environment? That's the thing that really got me going in the beginning in the summer. We looked at filters." Click here to read more and stream the episode.

Arun Gir, CEO of iEducate

Houston-based iEducate is connecting local tutors and mentors to students. Photo courtesy of iEducate

Now more than ever, young students need hands-on instruction to keep up in their studies, which for so many still are being conducted virtually. iEducate engages student mentors from the nearby University of Houston education program and graduating Alief ISD high school students to work alongside teachers to ensure that every child has the academic support needed to achieve their full potential.

"We are building on our unique range of educational support services that we have provided over the past to help schools advance student learning in these uncertain times," says Arun Gir, CEO of iEducate.

Gir says the coronavirus pandemic and the subsequent school closings have forced iEducate to adapt, just like many other teachers and educators. For the first time, they are offering a needs assessment to any school that is interested in working with them. Click here to read more.

University of Houston professor and entrepreneur, Seamus Curran, has pivoted amid the pandemic to use his nanotechnology expertise to help reduce the spread of COVID-19. Photo courtesy of Integricote

Houston scientist taps nanotech in masks and air filters to use to prevent COVID-19 spread

HOUSTON INNOVATORS PODCAST EPISODE 52

For over a decade, Seamus Curran, a physics professor at the University of Houston, has worked on his nanotechnology coating substance. He first thought the innovation could be used on fabrics and textile coating, but he realized, once getting acquainted with the industry, he realized there wasn't an interest for a hydrophobic coating that could be used to prevent the spread of germs — at least, not yet.

"Like anything small startup company, one of the things you have to learn is you have to pivot — or you will die," says Curran, who had created his company Integricote (neé C-Voltaics) to take his innovation to market.

So pivot is what he did. Integricote now markets toward coating and sealing materials within the construction industry — wood, concrete, etc. — to protect from water damage and rotting. As Curran shares on this week's episode of the Houston Innovators Podcast, business was growing steadily. That is until COVID-19 hit.

His construction coating business slowed, much like the rest of business across the country, and classes at UH switched to online. Curran used this newfound time at home to dig deeper into the details of the virus, when an idea hit him.

"I learned the virus traveled in a wet medium," Curran says, "(our coating) is hydrophobic, meaning we can stop it from penetrating any fabrics."

Curran worked to create hydrophobic facemasks using his sealant, and the technology was lauded and covered by various news organizations. He created a new company under Integricote, called Curran Biotech, and he started thinking of the next pandemic-proof innovation he could create using his sealant.

"The big thing for me when we were shut down was that people couldn't go to work or school. The country can't live that way — but you can't send people back to work in a world that's not safe," Curran says. "How do you create a safer environment? That's the thing that really got me going in the beginning in the summer. We looked at filters."

Curran, learning more about air filters than he ever cared to, realized that even the most expensive air filters can only protect from 10 to 25 percent of viruses. And most buildings' HVAC systems would have to be replaced completely to allow for these pricier, more protective filters.

"So, you'd have to replace your equipment and your filter prices go up — and you're still not blocking the virus," Curran says.

Curran Biotech's solution is a spray coating that can be used on air filters to make them more protected from COVID-19 spread.

Curran shared more about his nanotechnology innovation — as well as his excitement for being named one of MassChallenge Texas's finalist within the 2020 Houston cohort — in the episode of the podcast. You can listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


Houston researchers are working to provide COVID-19 solutions amid the pandemic. Getty Images

These 5 Houston-area research institutions have bright minds at work to battle COVID-19

research roundup

Since even the early days of COVID-19's existence, researchers all over the world were rallying to find a cure or potential vaccine — which usually take years to make, test, and get approved.

Houston researchers were among this group to put their thinking caps on to come up with solutions to the many problems of the coronavirus. From the testing of existing drugs to tapping into tech to map the disease, here are some research projects that are happening in Houston and are emerging to fight the pandemic.

Baylor College of Medicine evaluating potential COVID-fighting drug

Human Body Organs (Lungs Anatomy)

Baylor College of Medicine has identified a drug that could potentially help heal COVID-19 patients. Photo via bcm.edu

While Baylor College of Medicine has professionals attacking COVID-19 from all angles, one recent discovery at BCM includes a new drug for treating COVID-caused pneumonia.

BCM researchers are looking into Tocilizumab's (TCZ), an immunomodulator drug, effect on patients at Baylor St. Luke's Medical Center and Harris Health System's Ben Taub Hospital.

"The organ most commonly affected by COVID-19 is the lung, causing pneumonia for some patients and leading to difficulty breathing," says Dr. Ivan O. Rosas, chief of the pulmonary, critical care and sleep medicine section at BCM, in a news release.

TCZ, which has been used to successfully treat hyperimmune responses in cancer patients being treated with immunotherapy, targets the immune response to the coronavirus. It isn't expected to get rid of the virus, but hopefully will reduce the "cytokine storm," which is described as "the hyper-immune response triggered by the viral pneumonia" in the release.

The randomized clinical trial is looking to treat 330 participants and estimates completion of enrollment early next month and is sponsored by Genentech, a biotechnology company.

Texas A&M University leads drug testing

A Texas A&M University researcher is trying to figure out if an existing vaccine has an effect on COVID-19. Screenshot via youtube.com

A researcher from Texas A&M University is working with his colleagues on a short-term response to COVID-19. A vaccine, called BDG, has already been deemed safe and used for treatment for bladder cancer. BDG can work to strengthen the immune system.

"It's not going to prevent people from getting infected," says Dr. Jeffrey D. Cirillo, a Regent's Professor of Microbial Pathogenesis and Immunology at the Texas A&M Health Science Center, in a news release. "This vaccine has the very broad ability to strengthen your immune response. We call it 'trained immunity.'"

A&M leads the study in partnership with the University of Texas MD Anderson Cancer Center and Baylor College of Medicine in Houston, as well as Harvard University's School of Public Health and Cedars Sinai Medical Center in Los Angeles.

Texas A&M Chancellor John Sharp last week set aside $2.5 million from the Chancellor's Research Initiative for the study. This has freed up Cirillo's team's time that was previously being used to apply for grants.

"If there was ever a time to invest in medical research, it is now," Sharp says in the release. "Dr. Cirillo has a head start on a possible coronavirus treatment, and I want to make sure he has what he needs to protect the world from more of the horrible effects of this pandemic."

Currently, the research team is recruiting 1,800 volunteers for the trial that is already underway in College Station and Houston — with the potential for expansion in Los Angeles and Boston. Medical professionals interested in the trial can contact Gabriel Neal, MD at gneal@tamu.edu or Jeffrey Cirillo, PhD at jdcirillo@tamu.edu or George Udeani, PharmD DSc at udeani@tamu.edu.

"This could make a huge difference in the next two to three years while the development of a specific vaccine is developed for COVID-19," Cirillo says in the release.

Rice University is creating a COVID-19 map

Researchers at Rice University's Center for Research Computing's Spatial Studies Lab have mapped out all cases of COVID-19 across Texas by tapping into public health data. The map, which is accessible at coronavirusintexas.org, also identifies the number of people tested across the state, hospital bed utilization rate, and more.

The project is led by Farès el-Dahdah, director of Rice's Humanities Research Center. El-Dahdah used open source code made available by ESRI and data from the Texas Department of State Health Services and Definitive Healthcare.

"Now that the Texas Division of Emergency Management released its own GIS hub, our dashboard will move away from duplicating information in order to correlate other numbers such as those of available beds and the potential for increasing the number of beds in relation to the location of available COVID providers," el-Dahdah says in a press release.

"We're now adding another layer, which is the number of available nurses," el-Dahdah continues. "Because if this explodes, as a doctor friend recently told me, we could be running out of nurses before running out of beds."


Texas Heart Institute is making vaccines more effective

A new compound being developed at Texas Heart Institute could revolutionize the effect of vaccines. Photo via texasheart.org

Molecular technology coming out of the Texas Heart Institute and 7 HIlls Pharma could make vaccines — like a potential coronavirus vaccine — more effective. The oral integrin activator has been licensed to 7 Hills and is slated to a part of a Phase 1 healthy volunteer study to support solid tumor and infectious disease indications in the fall, according to a press release.

The program is led by Dr. Peter Vanderslice, director of biology at the Molecular Cardiology Research Laboratory at Texas Heart Institute. The compound was first envisioned to improve stem cell therapy for potential use as an immunotherapeutic for certain cancers.

"Our research and clinical colleagues are working diligently every day to advance promising discoveries for at risk patients," says Dr. Darren Woodside, co-inventor and vice president for research at the Texas Heart Institute, in the release. "This platform could be an important therapeutic agent for cardiac and cancer patients as well as older individuals at higher risk for infections."

University of Houston's nanotech health monitor

UH researchers have developed a pliable, thin material that can monitor changes in temperature. Photo via uh.edu

While developed prior to the pandemic, nanotechnology out of the University of Houston could be useful in monitoring COVID patients' temperatures. The material, as described in a paper published by ACS Applied Nano Materials, is made up of carbon nanotubes and can indicate slight body temperature changes. It's thin and pliable, making it ideal for a wearable health tech device.

"Your body can tell you something is wrong before it becomes obvious," says Seamus Curran, a physics professor at the University of Houston and co-author on the paper, in a news release.

Curran's nanotechnology research with fellow researchers Kang-Shyang Liao and Alexander J. Wang, which also has applications in making particle-blocking face masks, began almost 10 years ago.

This week's batch of Houston innovators includes Lawson Gow of The Cannon, Tracey Shappro of VISION Production Group, and Seamus Curran of the University of Houston. Photos courtesy

3 Houston innovators to know this week

who's who

Across industries, Houston innovation leaders, entrepreneurs, and innovators are coming up with creative solutions for the coronavirus or its subsequent challenges — from digital resources to reliable face masks.

This week's innovators to know shared their thoughts with InnovationMap on how the pandemic is affecting their industries.

Lawson Gow, founder of The Cannon

Innovation leaders have worked hard to advance its innovation infrastructure, and Lawson Gow doesn't want to see COVID-19 hold Houston back. Photo courtesy of The Cannon

Lawson Gow is confident his coworking and entrepreneurial-focused business will survive the COVID-19 pandemic, but he remarks on this week's episode of the Houston Innovators Podcast that there will be a significant shift in how the city's developing innovation districts present themselves.

"What's interesting is if you read the academic literature on innovation districts, it talks about density, collisions, interactions, and an ecosystem of swirling hustle and bustle of people interacting with each other," Gow says. "It reads like a how-to manual for how to spread disease."

Gow, who is the son of David Gow, owner of InnovationMap's parent company, Gow Media, joins the podcast to explain what he's closely watching throughout the pandemic. Click here to read more and stream the episode.

Tracey Shappro, CEO and founder of VISION Production Group

A Houston company focused on event production is helping its clients navigate a socially distant, increasingly digital time. Photo courtesy of VISION Production Group

Events and conferences across the world have been hit hard by the coronavirus as everyone focuses on staying home and socially distant. But for Tracey Shappro, CEO and founder of Houston-based VISION Production Group, who's worked for over a decade in event production, says she sees an opportunity to advance her clients' digital presences.

"We've got to leverage all of these ways to communicate that are not based on group experiences," she tells InnovationMap. "And I think this position is really going to help our clients make the right decisions and [allow them to] have options on how they want to communicate and engage their audiences."

Shappro sat down with InnovationMap to talk about how to use technology to make events virtual due to the coronavirus pandemic. Click here to continue reading.

Seamus Curran, professor of physics at the University of Houston

A new technology developed by the University of Houston's Seamus Curran is making a mask that's more resistant to viruses. Photo courtesy of the University of Houston

Seamus Curran is well-known for his work commercializing nanotechnologies, and he is pulling from his past to deal with a future demand. The professor is using a hydrophobic coating he developed nearly 10 years ago to improve the ability of surgical masks to protect against transmission of the virus.

The world is in dire need of more face masks, and Curran notes that standard masks are "somewhat porous, and especially if they get wet, they can allow the virus to penetrate." People infected with the virus, he adds, could spread it even through a mask, while people who aren't sick could still become infected, despite wearing a less-protective mask.

Curran is hoping his solution can prove to be much more effective at preventing the spread of the disease. Click here to continue reading.

The new technology from University of Houston could make any mask more resistant to viruses. Photo courtesy of Seamus Curran/Integricote

Physics professor at University of Houston puts nanotech to work to fight the spread of COVID-19

making better masks

The start of 2020, though most didn't know it at the time, meant a huge change to society. Though coronavirus didn't yet seem to be an issue for the United States, the world was entering into a new normal where wearing face masks in public is common and necessary to prevent the spread of COVID-19.

"We left normal in December," says Seamus Curran, a professor of physics at the University of Houston, "and, when everyone was planning their New Year's resolutions, little did we know that the old normal of before is gone. None of us saw that life passing away — and it was taken away by a bug 1,000 times smaller than lice. And like lice, it's going to be with us for a long time."

To that end, Curran, who is well-known for his work commercializing nanotechnologies, is pulling from his past to deal with a future demand. The professor is using a hydrophobic coating he developed nearly 10 years ago to improve the ability of surgical masks to protect against transmission of the virus.

It's no secret that good face masks are a dire, worldwide need. But Curran notes that standard masks are "somewhat porous, and especially if they get wet, they can allow the virus to penetrate." People infected with the virus, he adds, could spread it even through a mask, while people who aren't sick could still become infected, despite wearing a less-protective mask.

Curran calls N95 masks, "the gold standard, able to filter very small particles and offering better protection than standard surgical masks." But he notes that they are hard to manufacture, and global demand is for tens of millions of items. His work will make masks impervious to water, thus improving protection, he explains.

That means those who already own masks are in luck: Curran's team is planning to sell spray for the hydrophobic coatings so that people can apply it themselves at home or at work. "However, it's cheaper and far more effective to be able to apply it in large batch quantities that manufacturers can do," Curran adds.

The globally minded Curran has only one local requirement: "We will only sell to U.S. manufacturers that manufacture here in the U.S. It's not a limiting factor and may change in the future, but right now, I have to deal with my community here in Houston, Texas, and the U.S. It has to be my priority."

University of Houston's Dr. Seamus Curran. Photo courtesy of University of Houston

Curran and his team are working though the process to make sure their coatings are compliant with all federal rules. "Sometimes, this is making sure your materials are registered and allowed," he says. "Sometimes it's making sure the products follow relevant EPA and FDA guidelines. However, we are very close, as in weeks, and not some arbitrary academic timeline in the distant future."

He first launched a nanotechnology business in 2013, according to UH. His company, Integricote, based at the UH Technology Bridge, focuses on manufacturing sealers for masonry, wood, and concrete. The professor has developed nanotech coatings for fabrics since 2011, technology that he now is using to demonstrate a way to provide more protection against SARS and COVID-19.

Curran, who often says he hates to "play defense," hopes to get a jump on the virus spread with his new technology and take a proactive approach to a long-term issue. "Remember, H1N1 affected 61 million Americans and 12,500 people died from it between 2009 and 2010," he notes. "Do we think that's it? Did we think Ike was the last big hurricane to hit us, or do we expect more? Yet, we have compensated for this and found a way to be resilient and have a normal life."

Technical and scientific in his work, the passionate professor says he is galvanized by a simple, primal motive. "This is personal, this virus has threatened my family and I'm not sitting back, ideally, just letting this happen," Curran says. "I'm just like any other husband, father, son, brother, and uncle: I will do all I can to protect those dearest to me and I will not have it any other way."

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This article originally ran on CultureMap.

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Intuitive Machines forms partnership with Italian companies for lunar exploration services

to the moon

Houston-based space technology, infrastructure and services company Intuitive Machines has forged a partnership with two Italian companies to offer infrastructure, communication and navigation services for exploration of the moon.

Intuitive Machines’ agreement with the two companies, Leonardo and Telespazio, paves the way for collaboration on satellite services for NASA, a customer of Intuitive Machines, and the European Space Agency, a customer of Leonardo and Telespazio. Leonardo, an aerospace, defense and security company, is the majority owner of Telespazio, a provider of satellite technology and services.

“Resilient, secure, and scalable space infrastructure and space data networks are vital to customers who want to push farther on the lunar surface and beyond to Mars,” Steve Altemus, co-founder and CEO of Intuitive Machine, said in a news release.

Massimo Claudio Comparini, managing director of Leonardo’s space division, added that the partnership with Intuitive Machines is a big step toward enabling human and robotic missions from the U.S., Europe and other places “to access a robust communications network and high-precision navigation services while operating in the lunar environment.”

Intuitive Machines recently expanded its Houston Spaceport facilities to ramp up in-house production of satellites. The company’s first satellite will launch with its upcoming IM‑3 lunar mission.

Intuitive Machines says it ultimately wants to establish a “center of space excellence” at Houston Spaceport to support missions to the moon, Mars and the region between Earth and the moon.

Houston hospitals win $50M grant for ibogaine addiction treatment research

ibogaine funding

The Texas Health and Human Services Commission has awarded $50 million to UTHealth Houston in collaboration with The University of Texas Medical Branch at Galveston (UTMB Health) to co-lead a multicenter research trial to evaluate the effect of ibogaine, a powerful psychoactive compound, on patients suffering from addiction, traumatic brain injury and other behavioral health conditions.

The funding will establish a two-year initiative—known as Ibogaine Medicine for PTSD, Addiction, and Cognitive Trauma (IMPACT)—and a consortium of Texas health institutions focused on clinical trials and working toward potential FDA-approved treatments.

The consoritum will also include Texas Tech University, Texas Tech University Health Sciences Center El Paso, The University of Texas at Austin, The University of Texas Health Science Center at San Antonio, The University of Texas at Tyler, The University of Texas Rio Grande Valley, Texas A&M University, The University of North Texas Health Science Center, Baylor College of Medicine and JPS Health Network in Dallas.

Ibogaine is a plant-based, psychoactive substance derived from the iboga shrub. Research suggests that the substance could be used for potential treatment for patients with traumatic brain injuries, which is a leading cause of post-traumatic stress disorders. Ibogaine has also shown potential as a treatment for addiction and other neurological conditions.

UTHealth and partners will focus on ways that ibogaine can treat addiction and associated conditions. Meanwhile, UT Austin and Baylor College of Medicine will concentrate on using it to treat traumatic brain injury, especially in veterans, according to a news release from the institutions.

The consortium will also support drug developers and teaching hospitals to conduct FDA-approved clinical trials. The Texas Health and Human Services Commission will oversee the grant program.

“This landmark clinical trial reflects our unwavering commitment to advancing research that improves lives and delivers the highest standards of care,” Dr. Melina Kibbe, UTHealth Houston president and the Alkek-Williams Distinguished Chair, said in the news release. “By joining forces with outstanding partners across our state, we are building on Texas’ tradition of innovation to ensure patients struggling with addiction and behavioral health conditions have access to the best possible outcomes. Together, we are shaping discoveries that will serve Texans and set a model for the nation.”

The consortium was authorized by the passage of Senate Bill 2308. The bill provides $50 million in state-matching funds for an ibogaine clinical trial managed by a public university in partnership with a drug company and a hospital.

“This is the first major step towards the legislature’s goal of obtaining FDA approval through clinical trials of ibogaine — a potential breakthrough medication that has brought thousands of America’s war-fighters back from the darkest parts of depression, anxiety, PTSD, and chronic addiction,” Texas Rep. Cody Harris added in the release. “I am excited to walk alongside UTHealth Houston and UTMB as these stellar institutions lead the nation in a first-of-its-kind clinical trial in the U.S.”

Recently, the University of Houston also received a $2.6 million gift from the estate of Dr. William A. Gibson to support and expand its opioid addiction research, which includes the development of a fentanyl vaccine that could block the drug's ability to enter the brain. Read more here.

Tesla no longer world's biggest EV maker as sales fall for second year

Tesla Talk

Tesla lost its crown as the world’s bestselling electric vehicle maker as a customer revolt over Elon Musk’s right-wing politics, expiring U.S. tax breaks for buyers and stiff overseas competition pushed sales down for a second year in a row.

Tesla said that it delivered 1.64 million vehicles in 2025, down 9% from a year earlier.

Chinese rival BYD, which sold 2.26 million vehicles last year, is now the biggest EV maker.

It's a stunning reversal for a car company whose rise once seemed unstoppable as it overtook traditional automakers with far more resources and helped make Musk the world's richest man. The sales drop came despite President Donald Trump's marketing effort early last year when he called a press conference to praise Musk as a “patriot” in front of Teslas lined up on the White House driveway, then announced he would be buying one, bucking presidential precedent to not endorse private company products.

For the fourth quarter, Tesla sales totaled 418,227, falling short of even the much reduced 440,000 target that analysts recently polled by FactSet had expected. Sales were hit hard by the expiration of a $7,500 tax credit for electric vehicle purchases that was phased out by the Trump administration at the end of September.

Tesla stock fell 2.6% to $438.07 on Friday.

Even with multiple issues buffeting the company, investors are betting that Tesla CEO Musk can deliver on his ambitions to make Tesla a leader in robotaxi services and get consumers to embrace humanoid robots that can perform basic tasks in homes and offices. Reflecting that optimism, the stock finished 2025 with a gain of approximately 11%.

The latest quarter was the first with sales of stripped-down versions of the Model Y and Model 3 that Musk unveiled in early October as part of an effort to revive sales. The new Model Y costs just under $40,000 while customers can buy the cheaper Model 3 for under $37,000. Those versions are expected to help Tesla compete with Chinese models in Europe and Asia.

For fourth-quarter earnings coming out in late January, analysts are expecting the company to post a 3% drop in sales and a nearly 40% drop in earnings per share, according to FactSet. Analysts expect the downward trend in sales and profits to eventually reverse itself as 2026 rolls along.

Musk said earlier last year that a “major rebound” in sales was underway, but investors were unruffled when that didn't pan out, choosing instead to focus on Musk's pivot to different parts of business. He has has been saying the future of the company lies with its driverless robotaxis service, its energy storage business and building robots for the home and factory — and much less with car sales.

Tesla started rolling out its robotaxi service in Austin in June, first with safety monitors in the cars to take over in case of trouble, then testing without them. The company hopes to roll out the service in several cities this year.

To do that successfully, it needs to take on rival Waymo, which has been operating autonomous taxis for years and has far more customers. It also will also have to contend with regulatory challenges. The company is under several federal safety investigations and other probes. In California, Tesla is at risk of temporarily losing its license to sell cars in the state after a judge there ruled it had misled customers about their safety.

“Regulatory is going to be a big issue,” said Wedbush Securities analyst Dan Ives, a well-known bull on the stock. “We're dealing with people's lives.”

Still, Ives said he expects Tesla's autonomous offerings will soon overcome any setbacks.

Musk has said he hopes software updates to his cars will enable hundreds of thousands of Tesla vehicles to operate autonomously with zero human intervention by the end of this year. The company is also planning to begin production of its AI-powered Cybercab with no steering wheel or pedals in 2026.

To keep Musk focused on the company, Tesla’s directors awarded Musk a potentially enormous new pay package that shareholders backed at the annual meeting in November.

Musk scored another huge windfall two weeks ago when the Delaware Supreme Court reversed a decision that deprived him of a $55 billion pay package that Tesla doled out in 2018.

Musk could become the world's first trillionaire later this year when he sells shares of his rocket company SpaceX to the public for the first time in what analysts expect would be a blockbuster initial public offering.

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