Oil Surge Fuels EV Boom: Tesla Q1 Revenue Jumps 16% Amid Capex Warning

Surging oil prices from U.S. strike on Iran and Strait disruptions are accelerating EV demand, with Tesla Inc posting strong Q1 automotive revenue up 16% to $16.2 billion and European deliveries soaring 150% quarter-over-quarter, sparking an initial stock rally that eased on Elon Musk's capex hike alert. This builds on the EV/AV revolution where global BEV sales hit 14.6 million units in 2025 (+29% YoY), projected at 17.4 million in 2026 (~19% share), and Tesla briefly reclaimed top sales from BYD. Electric car sales leaped 51% in continental Europe, underscoring the oil-driven shift.