When Australian Dick Friend bought a Tesla in 2015, he was so impressed with its environmental credentials and performance that he and his wife bought two more of the electric vehicles, plus shares in the Elon Musk-led company.

Looking at Germany, the largest market for EVs in the E.U., the country saw a 30% year-over-year rise in electric vehicle sales in February, but Tesla sales were down more than 70% compared to last year—less than 1,500 new Teslas were registered in the country in February.

While 2024 sales grew 35%, boosted by increased demand, there was a dip in sales at its power systems and trade divisions at the start of of the year.

Rheinmetall, a major beneficiary of Europe's big push to invest in defence, said on Wednesday it expects significant sales growth in 2025 and that it would update its outlook to take into account recent developments in the war in Ukraine.

Rheinmetall AG is projecting sales at its main defense business will grow as much as 40% this year as Europe ramps up spending on the military.