Tesla Intensifies EV Price War with New Model Launches and Lower Ranges
Tesla has launched new, shorter-range versions of its Model S and Model X vehicles, reducing the price of its base luxury electric vehicles by $10,000. This move comes as Tesla engages in an EV price war, slashing prices multiple times this year. The new models have software-locked battery packs, with about 21% of the battery capacity locked. Tesla stock fell slightly, and Cathie Wood's Ark Invest firm has sold nearly 120,000 shares of TSLA over the last three sessions.
