Posted 1/14/2024, 6:15:11 PM
Tesla Faces Mounting Challenges As Market Value Plunges $94 Billion
- Tesla's market value has plunged by over $94 billion in early 2024, the largest drop since the company was founded in 2010
- Hertz has changed its position on EVs, there have been more price cuts on Tesla's Chinese-made vehicles, and labor costs are rising
- Tesla is facing a broader decline in the EV market, especially in the US, despite price cuts to boost demand
- Supply chain disruptions related to Red Sea security concerns have disrupted deliveries to Tesla's Berlin factory
- Tesla suspended most production at its Berlin factory from January 29 to February 11