Bosch Launches €250 Million Fund for Startups
In the face of economic uncertainty and global economic turbulence, Bosch is continuing with its commitment to provide venture capital to startups.
Tesla’s sales continued to plunge across Europe in April, even as car buyers there increasingly buy electric vehicles. EV-makers' sales were down sharply in the UK, the Netherlands, Denmark, Portugal, Sweden, and France.
European backlash was mostly inspired by Tesla CEO Elon Musk’s politics. Musk has backed some far-right political candidates in Germany and the UK. Given his high-profile role in the Trump administration, anger over the threat to slap steep tariffs on European imports could also be turning off some European buyers.
In the UK, one of the rare European markets where Tesla had stronger sales in Q1, sales in April dropped 62%. The drop came even as overall EV sales rose 8% in the UK for the month. Sales were also down 67% in Denmark, 74% in the Netherlands, 33% in Portugal, 81% in Sweden, and 59% in France.
Some of the drop is due to increased EV competition from other automakers, most of all from Chinese BYD, which is poised to pass Tesla as the world’s largest EV maker this year. Tesla has not issued guidance on its 2025 sales volume. Some analysts expect a drop in Tesla’s full-year sales, given both its recent sales declines and the backlash against Musk.
Across Europe, Tesla suffered a 36% drop in sales during the first three months of the year, the European Automobile Manufacturers’ Association reported. Simultaneously, EV sales in that market rose 24% in the period. The news comes after Tesla reported its first drop in annual sales for 2024, and the biggest drop in quarterly global sales in history in Q1. That resulted in net income falling 71% in 1Q25.