Tesla sees worldwide EV order spike amid rising gas prices
Business
Tesla is seeing a big spike in electric car orders worldwide, including in the US where buyers lost out on tax credits.
According to CFO Vaibhav Taneja, this rush is in part thanks to rising gas prices after Iran closed most traffic through the Strait of Hormuz after the U.S.-Iran conflict and pushed up energy costs, making gas cars look a lot less appealing.
Tesla to invest over $25 billion
To keep up with demand, Tesla is ramping up its spending, planning over $25 billion in investments for 2026 (way up from $8.5 billion last year).
Elon Musk has announced a new $3 billion chip factory in Texas to fight chip shortages and boost AI tech.
Plus, Tesla's expanding big-time.