Trump metal tariffs could slow data center growth and disrupt power grid, analyst says
President Donald Trump‘s steel and aluminum tariffs could slow data center growth by exacerbating the shortage of key components in the electric grid, according to a leading commodity analyst at Carlyle.
Big Tech missed Wall Street expectations for their cloud segments last week due in part to a shortage of transformers, said Jeff Currie, chief strategy officer of energy pathways at Carlyle.
Transformers are crucial pieces of equipment that ramp the voltage of electricity up and down, enabling its distribution from power plants to end customers such as data centers.
“What are transformers? They’re just big chunks of metal,” Currie told CNBC’s “Squawk Box” on Thursday. “So if you put tariffs disrupting supply chains it just aggravates that situation.”
Alphabet, Amazon and Microsoft missed revenue targets for their cloud segments in their most recent quarterly financial results, sending their stocks lower. Microsoft’s Azure cloud business has been struggling with supply shortages. Demand for Alphabet’s AI products is exceeding available capacity.
“We are in a tight supply-demand situation, working very hard to bring more capacity online,” Anat Ashkenazi, Alphabet’s chief financial officer, told investors on the company’s Feb. 4 earnings call.
The world’s largest transformer manufacturer, Hitachi Energy, warned late last year that the industry is overwhelmed with demand for the equipment.
“Ramping up capacity is definitely an issue. It’s not easy and it will probably not ramp up fast enough,” CEO Andreas Schierenbeck told The Financial Times in a Nov. 3 interview. Schierenbeck told the FT that utilities that need transformers would have to wait up to four years if they don’t already have one reserved.
Transformer capacity might need to more than double or triple through 2050 compared with 2021 levels to keep up with demand as infrastructure ages and the economy is electrified, according to a study published in March 2024 by the National Renewable Energy Laboratory.
Trump’s aluminum tariffs could also disrupt the grid by bringing manufacturing of the energy-intensive metal back to the U.S., Currie said.
“If you think AI is power intensive, aluminum is a whole different world,” Currie said. “It is six times more power intensive than AI data centers. So bringing it onshore in an environment in which AI data centers are already expected to consume any excess power, this would be incredibly disruptive to power grids.”
“There is a reason it was outsourced to begin with,” said the analyst, who headed up commodities research at Goldman Sachs for decades. He is known for bold, and often bullish, calls on oil prices, including his predictions of a China-driven surge in the 2000s.
The Mercedes-Benz High-Power Charging network is expanding into Canada, with more than 2,500 fast chargers planned across Canada and the US.
The Mercedes-Benz High-Power Charging network is set to debut in Canada in 2025 in Metro Vancouver, and more fast chargers will open in Toronto in 2026.
The smart charging stations are open to all EVS, and Mercedes-Benz drivers have exclusive benefit privileges, including automatic charger reservations enabled by the native Navigation with Electric Intelligence feature on electric Mercedes models and the “Plug & Charge” feature for Mercedes me Charge app users.
The 400 kW DC fast chargers will feature both CCS1 and NACS connectors, and certain EVs will be able to charge from 10% to 80% in under 20 minutes.
“Our expansion into Canada will take steps to fill the gap in fast charging infrastructure and help customers confidently drive electric. At the end of the day, a better charging experience is a better EV ownership experience,” said Andrew Cornelia, CEO and president of Mercedes-Benz High-Power Charging North America.
Mercedes-Benz High-Power Charging opened its first North American charging site at Mercedes-Benz USA’s headquarters in Sandy Springs, Georgia, in November 2023 as part of an initial $1 billion charging network investment.
In February, Mercedes-Benz High-Power Charging surpassed 300 charging stalls in operation and under construction in 11 US states.
Read more: Mercedes-Benz High-Power Charging goes large at Starbucks
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Hyundai just launched its first flagship EV, the IONIQ 9, in South Korea. The IONIQ 9 is the largest Hyundai electric SUV with “best-in-class” interior space and features more driving range than any other EV in its lineup. For those of you in the US, get ready. You’re up next.
Hyundai IONIQ 9 launches in South Korea
After opening pre-orders last week, Hyundai officially launched the flagship IONIQ 9 in its home market on Thursday.
The electric SUV is available in six or seven-seat configurations, each with three trim options. The seven-seater “Exclusive” model starts at 67.15 million won, or around $46,000. Prices range upward to 79.41 million won ($54,500) for the premium “Calligraphy” six-seater. It can be bought in AWD or RWD powertrain setups.
With incentives, Hyundai expects the actual purchase price of the base IONIQ 9 (Exclusive trim) to be in the low to mid 60 million won range (around $41,000 to $45,000).
Buyers can choose from four different seating setups. The six-seater is available with premium relaxation seats, swivel seats, or a dynamic body care seat, while the seven-seater features a 6:4 folding seat.
The electric SUV is slightly larger than its sibling, the Kia EV9, at 5,060 mm (199.2″) long, 1,980 mm (78″) wide, and 1,790 mm (70.5″) tall with a wheelbase of 3,130 mm (123″). In comparison, Kia’s three-row electric SUV is 5,010 mm long, 1,980 mm wide, and 1,755 mm tall, with a wheelbase of 3,100 mm.
Inside, Hyundai loaded the flagship model with its latest tech, including a panoramic curved infotainment setup with dual 12.3″ driver display and navigation screens.
Powered by a 110.3 kWh battery and Hyundai’s E-GMP platform, the IONIQ 9 is rated for up to 532 km (330 miles) driving range in Korea.
With a 400/800V dual charging system, the IONIQ 9 can charge from 10% to 80% in just 24 minutes using a 350 kW charger.
| Hyundai IONIQ 9 trim | Starting Price (South Korea) |
| 7-seater Exclusive (with incentives) |
60 million won ($41,000) |
| 7-seater Exclusive | 67.15 million won ($45,800) |
| 7-seater Prestige | 73.15 million won ($50,000) |
| 7-seater Calligraphy | 77.92 million won ($53,100) |
| 6-seater Exclusive | 69.03 million won ($47,000) |
| 6-seater Prestige | 74.64 million won ($51,000) |
| 6-seater Calligraphy | 79.41 million won ($54,500) |
During the launch event, a Hyundai Motor official said, “We plan to provide a new level of electrification experience through the IONIQ 9, Hyundai Motor Company’s first electrified flagship SUV model.”
Following its domestic launch, Hyundai said it would launch the IONIQ 9 in the US. Hyundai will build the IONIQ 9 at its new EV plant in Georgia alongside the updated 2025 IONIQ 5.
Like the new IONIQ 5, the 2026 Hyundai IONIQ 9 will have a native NACS port for charging at Tesla Superchargers.
Hyundai’s website says the IONIQ 9 is coming in Spring 2025. Although prices will be revealed closer to launch, the flagship electric SUV is expected to start at around $60,000, or slightly higher than the EV9 at about $55,000.
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Chevy just unveiled a ferocious new Blazer EV.R prototype. Based on the new Blazer EV SS and NASCAR’s tri-motor powertrain, the prototype delivers over 1,300 horsepower.
Chevy unveils 1,300 hp Blazer EV.R NASCAR prototype
Ahead of the Daytona 500 this weekend, Chevy is giving us a glimpse into the future of racing. Chevy introduced the Blazer EV.R prototype on Thursday, which was built in collaboration with NASCAR.
Based on NASCAR’s Next-Gen EV chassis, the Blazer prototype packs over 1,300 hp (1,000 kW) from three STARD UHP 6-Phase electric motors, one in the front and two in the back. It also features a 78 kWh liquid-battery cooled battery.
Chevy said the Blazer EV.R is an example of new technology it’s testing out that could potentially be used in future production cars and race programs.
The prototype pulls design features from the 2025 Blazer EV SS, the fastest SS Chevy has ever made. With up to 615 hp, the electric Blazer can sprint from 0 to 60 mph in just 3.4 seconds.
Chevy’s global design executive director, Phil Zak, explained the Blazer EV.R features a lower and wider stance with added aerodynamics for performance.
Although just a prototype (for now), GM engineers were able to test it out at race pace last month at Carolina Motorsports Park in Kershaw, South Carolina.
The prototype was driven by Team Chevy Driver Justin Allgaier, who won the 2024 NASCAR Xfinity Series Champion.
NASCAR vice president of vehicle design Brandon Thomas said, “With the Blazer EV.R NASCAR prototype, Chevrolet and its engineers meshed new technologies with the NASCAR Next Gen platform – and the result is a powerful, exciting vehicle that we believe fans will love when they see it at Daytona International Speedway.”
The 2025 Chevy Blazer EV SS will be the first to pace “The Great American Race” this weekend. You can watch the Daytona 500 to catch Chevy’s new performance EVs on Sunday, February 16, 2025.
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