Tesla has reduced prices in several of its major markets, including China and Germany, following price reductions in the United States. This move comes as the company battles declining sales and an escalating price war for electric vehicles, particularly against Chinese EVs.
The US transition to electric cars has hit a speed bump, with concerns about vehicle range and limited charging capacity adding to core affordability issues.
Spurred by falling battery prices, electric vehicles could hit price parity with fossil-fuel models in Europe in 2024 and the U.S. market in 2026, and account for two thirds of global car sales by 2030, according to new research.