Tesla EV deliveries, production fall as analysts say sentiments turn 'sour'

Energy transition highlights: Our editors and analysts bring together the biggest stories in the industry this week, from renewables to storage to carbon prices.

Tesla saw a double-digit decline in electric vehicle production and deliveries in the first quarter of 2025, April 2 data showed, while the company’s energy storage business saw explosive year-over-year growth.

Tesla produced and delivered 362,615 and 336,681 vehicles in Q1 2025, respectively. These results reflect a 16% and 13% year-over-year drop. Deliveries fell 32% from Q4 2024.

The company did not estimate overall growth in 2025 compared to 2024 in its Q4 earnings call. Tesla experienced a 1% decline in EV deliveries in 2024 and a 6% drop in total automotive revenues.

Sentiments toward Tesla have “turned sour” with CEO Elon Musk becoming “increasingly unpopular amid increased involvement in White House politics,” S&P Global Commodity Insights analysts said in the March 27 edition of EV Essentials. In the US, new Tesla sales fell 11% year over year in January.

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SPGlobal.com

US announces 10% baseline global tariff on imports, excluding most energy

US President Donald Trump imposed a sweeping new round of tariffs on US imports from major trading partners on April 2, outlining a 10% baseline minimum tariff on all imported goods alongside a sliding scale of reciprocal levies on major US trade partners, while seeming to exclude most energy imports.

China allocates resources to tackle battery swapping challenges

The Chinese government, state-owned enterprise Sinopec and leading private sector companies, such as battery giant CATL and electric vehicle maker Nio Inc., have recently allocated significant resources to the country's battery swapping industry to tackle critical challenges.

Finland shuts last coal-fired power plant at Salmisaari, ending the era of coal

Helsinki utility Helen has shut down its last coal-fired power plant in Salmisaari, ending the era of coal in the country. Annual CO2 emissions at Helen will decline 50% compared with 2024 and those for Finland's capital Helsinki by around 30%. "Giving up coal is a concrete step towards Helen's clean, self-sufficient and affordable energy production," Helen CEO Olli Sirkka said.

Platts Connect

US renewables, battery suppliers reel from Trump’s tariff policy ‘whiplash’

Renewable energy, battery storage and independent power producer stocks joined the broader market meltdown after US President Donald Trump invoked the International Emergency Economic Powers Act and National Emergencies Act to implement sweeping tariffs on major trading partners.

Tariffs, resource protectionism bullish for energy transition: Societe Generale

The imposition of tariffs on global trade and increasing resource protectionism is bullish for the energy transition in the medium-to-long term, as clean energy becomes an increasingly prominent part of nations’ energy security plans, Societe Generale’s global head of Commodity Strategy told Platts. The narrative around the energy transition is moving away from solely environmental considerations toward energy security and sovereignty, Ben Hoff said in an interview. “That actually is quite bullish,” he said. “The question of energy security ultimately ends up being a positive driver in our view to the energy transition.”

India's renewable hydrogen developers highlight difficulties in securing FID

India’s renewable hydrogen developers say insufficient subsidies, a lack of infrastructure and changing rules are among the factors creating uncertainty among buyers, thus impacting the Final Investment Decision, a crucial milestone before plant construction can start.

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