Tesla says soaring gas prices are driving more EV demand

Tesla said first-quarter EV demand rebounded, helped by expensive fuel after the Iran conflict boosted interest in electric cars.

The company beat profit expectations but missed on revenue in its latest earnings report.

Tesla also warned that spending will rise as it pushes deeper into AI, robotics, and robotaxis.

Rising gasoline prices could encourage more shoppers to switch to EVs and help offset weaker vehicle deliveries.