Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news and analysis.

Good afternoon today is Tuesday, March 5th, and I'm'm your host Kim Khan. Our top story so far.

A fire and power outage at Tesla's plant in Germany led to a full evacuation.

Police and Brandenburg are investigating a letter the force received pointing to an environmental organization known as Volk and Group as responsible for arson at the site.

Local media reports in Germany indicate the letter called for the complete destruction of Tesla's gigafactory.

The Brandenburg State Interior Minister said,

if the initial findings are confirmed,

this is a profidious attack on our electricity infrastructure.

This will have consequences. Thousands of people have been cut off from their basic supply and put in danger.

Tesla was forced to temporarily halt production of the Gigafactory located close to Berlin

after all employees were evacuated. The company employs about 12,500 people in the region.

Also in electric vehicle news, EV makers are set for a stark impact on

global gasoline demand in less than a year. That's according to J.P. Morgan.

Strategist Marco Kalanovich says increasing pressure from electrification and efficiency gains will likely lead to a contraction in global gas demand in 2025 for the first time ever outside of a recession.

They predict a cumulative loss of 900,000 barrels per day by 2030.

Moving along the electrification road, 21.6 million electrified vehicles, battery EVses, plug-in hybrid, and hybrids were likely sold worldwide in

2023 or 33% of total auto sales, he said.

The market is moving from early adopters to early mass majority in Europe and China,

while the US remains a nascent market. Fully or partially electric vehicles are now a meaningful

share of the fleet, representing about 7% of the global fleet.

In today's trading, stocks are choppy again, with the major indexes in the red,

the NASDAQ is faring the worst, down more than 1%.

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