Tesla Says Tariffs Hit Energy Business Harder Than Cars, Plans $9B Capex

Tesla Inc. said in its latest quarterly filing that the present U.S. tariff structure will weigh more heavily on its energy generation and storage segment than on its core automotive operations. The company did not quantify the differential impact, but described the imbalance as "relatively larger" for the energy unit. The filing also disclosed that Tesla expects capital expenditures to surpass $9 billion in 2025 as it expands manufacturing capacity and energy infrastructure. During the second-quarter earnings call, Chief Financial Officer Vaibhav Taneja put the tariff-related cost increase at about $300 million for the period, noting roughly two-thirds of that rise was borne by the automotive business despite the broader outlook presented in the filing. Quarterly revenue declined 12% from a year earlier to $22.5 billion, reflecting softer vehicle deliveries and higher input costs. Tesla said it continues to monitor trade policy developments while evaluating supply-chain adjustments to mitigate future tariff exposure.