Tesla, Rivian Slash EV Prices As Demand Concerns Rattle Investors
• Tesla and BYD cut prices again, rattling investor confidence and EV stock prices
• Lower prices erode margins and profitability for automakers like Tesla
• Rivian and Lucid shares dropped 7% and 6.9% respectively on the Tesla news
• Falling stock prices make it harder for money losing Rivian and Lucid to raise capital
• The EV market faces oversupply issues as demand has limits even for market leader Tesla