Flagship newsletter icon
From Semafor Flagship
In your inbox, every weekday
Sign up

EVs, solar benefit from energy supply crunch

Apr 23, 2026, 7:04am EDT
PostEmailWhatsapp
Chinese solar panels.
Stringer/Reuters

Tesla reported a resurgence in sales and Chinese solar exports doubled in a month, as the global energy crisis showed no signs of easing.

Fifty countries saw record Chinese solar imports in March, the think tank Ember reported, especially in Asia and Africa; battery and EV sales were up as well.

Soaring gasoline prices in the US have renewed interest in hybrids and EVs there too, and Tesla, which had seen demand slump since the White House removed green subsidies, announced increased profits and revenues. The firm also saw a European revival, with an 84% year-on-year sales increase in March, although Chinese rival BYD reported an even bigger boost, with fuel price rises pushing consumers away from combustion engines.

A chart showing the capacity of Chinese solar exports.
— Tom Chivers
AD