Tesla lost about $ 50 billion in market value in two hours: its shares plummeted 5.5% after Elon Musk's speech.
The head of the corporation promised to reduce the cost of producing batteries within three years, which, moreover, will be five times more capacious. This will create an affordable car worth $ 25,000, and even with an autopilot. Now the cheapest “Tesla” costs almost 40 thousand.
But investors expected something completely different from Musk: a story about specific measures to reduce costs that would help electric cars become cheaper than gasoline ones not only in purchase, but also in operation – after all, batteries have to be changed, and they are the most expensive part of an electric car. The market found vague plans for several years unconvincing.
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