EV Industry Update: Tesla Deliveries Drop, Automakers Offer Financing, Charging Network Expands

The electric vehicle industry continues to show strong growth and innovation, with several notable developments in the past 48 hours. Tesla's deliveries in Europe have dropped 43% in the first two months of 2025 compared to the same period last year, despite overall electric vehicle sales in Europe increasing by 28.4%. This suggests shifting market dynamics and increased competition in the region.In the United States, automakers are offering attractive financing deals to boost EV sales. Several manufacturers, including Chevrolet, Ford, and Volkswagen, are providing 0% financing for up to 72 months on various electric models. These aggressive promotions aim to maintain sales momentum as some EV tax incentives face potential elimination.The BMW iX has ranked highest in overall satisfaction among premium electric vehicles in the J.D. Power 2025 U.S. Electric Vehicle Experience Ownership Study, while the Hyundai IONIQ 6 leads in the mass market segment. The study also reveals that 94% of EV owners are likely to consider purchasing another EV for their next vehicle, indicating strong customer loyalty in the sector.Foxconn, the Taiwanese electronics manufacturer, is reportedly in talks with Mitsubishi to potentially produce future EVs for the Japanese automaker. This partnership could mark a significant shift in the industry, with traditional automakers increasingly outsourcing EV production to tech-focused companies.In terms of market share, battery electric vehicles reached 9.1% of retail sales in the United States in 2024, up from 8.4% in 2023. However, J.D. Power forecasts that EV market share growth may plateau in 2025 due to uncertainty surrounding tax incentives and public charging infrastructure funding.The EV charging infrastructure continues to expand, with satisfaction regarding public charger availability improving among mass market EV owners. This progress is partly attributed to the opening of Tesla's Supercharger network to other brands.These developments highlight the dynamic nature of the EV industry, with established players adapting to new challenges and opportunities while emerging competitors seek to gain market share in this rapidly evolving sector.