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Good morning. Today we're talking about Tesla’s falling European sales, Microsoft’s decision to end Skype and Apple’s huge US investment.

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Big Stories

Europe shuns Tesla

European electric vehicle sales surged in January, but Tesla experienced a significant drop, raising concerns about its market position. While overall car sales declined, EV purchases rose by 37% year-over-year. However, Tesla's deliveries plummeted by nearly 50%, falling below 10,000 units. The US company saw multi-year lows in key markets like Germany and France and lost its UK market lead to Chinese maker BYD. Several factors may be contributing to Tesla's decline. Increased competition from European and Chinese manufacturers, offering compelling EV models at competitive prices, plays a role. However, Elon Musk's increasingly controversial public persona is also cited as a potential deterrent for European buyers. Tesla's share price reflected this downturn, falling over 9% and dipping below a $1 trillion valuation. This performance suggests that while Musk's unconventional leadership might appeal to some investors, it potentially alienates a significant portion of the European consumer base.

Skype’s last call

Microsoft has announced the discontinuation of Skype in May, signalling the end of an era for the once-dominant video calling service. Founded in 2003, Skype revolutionised long-distance communication by offering free voice and video calls, becoming a household name and a popular tool for both personal and professional use. Microsoft acquired Skype for $8.5bn in 2011, aiming to integrate it into its broader ecosystem. However, Skype struggled to maintain its market share against competitors like FaceTime, WhatsApp, and Zoom, plagued by clunky performance and a failed pivot to workplace communications. Microsoft began phasing out Skype for Business in 2017, shifting its focus to Teams, which saw a surge in popularity during the pandemic. With 320m users, Teams has become Microsoft's primary communication platform. Skype's user base dwindled, falling from 300m monthly users in 2016 to 36m daily users in 2023. The shutdown marks the end of Skype as a standalone service, with Microsoft encouraging users to migrate to Teams.

Apple’s US commitment

Apple has announced a $500bn investment in the US over the next four years, aiming to expand its domestic operations and reduce its dependence on China. This "largest-ever spend commitment" includes the creation of 20,000 new jobs and the establishment of a new production plant in Houston, Texas, along with a manufacturing training academy in Michigan. This move comes amidst increasing pressure from the Trump administration, which has implemented tariffs on Chinese-made goods and threatened further measures against companies manufacturing overseas. The investment aligns with a broader trend of tech companies, including chipmakers like Intel and TSMC, pouring substantial capital into US electronics manufacturing, with planned investments nearing $450bn. Apple's decision follows reported discussions between CEO Tim Cook and President Trump, where Cook allegedly pledged to shift manufacturing from Mexico to the US to avoid tariffs.

Elsewhere...

U-turning: Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production.

New boss: Consumer brand conglomerate Unilever has ousted its CEO of 18 months in a bid to speed up the company’s turnaround plans.

Delivery deal: Food delivery firm Just Eat Takeaway is poised to be acquired by Dutch technology investor Prosus for $4.3bn.

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