Tesla, along with General Motors and Ford, has expressed caution about expanding electric vehicle (EV) production due to economic uncertainties and concerns about a slowdown in demand. CEO Elon Musk cited worries about higher borrowing costs affecting customers' ability to afford Tesla vehicles, despite significant price cuts. Musk also mentioned the impact of economic uncertainty on consumer purchasing decisions. These cautious remarks have led to a decline in Tesla's shares and those of other EV makers.
from Auto-Industry-Economic Times https://ift.tt/9ceJDy5
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