How many more straws can you fit on an electric car company's back?
Further evidence of fading demand can be found in Tesla's offered discount to customers taking early delivery in late 2022, which apparently wasn't sufficient to give its numbers a needed year-end boost. Tesla is also likely to face increased pressure from Major US automakers like Ford and, which are investing heavily in electric vehicles, and at price points more affordable to the average consumer.
Dan Ives, an equity analyst and long-time Tesla bull, described Tesla's Q4 delivery numbers as"better than worst-case fears," but still not enough to keep optimistic investors happy. To make things worse, South Korean regulators fined Tesla $2.2 million today over allegations the company exaggerated the battery range of its vehicles.
Korean winters are harsh and cold, as your reporter can personally attest to. Such freezing temperatures cause the range on Teslas to plummet by up to 50 percent, the Korean Fair Trade CommissionThe US EV maker exaggerated driving range, cost-effectiveness compared to gasoline vehicles and the performance of its Superchargers, the KFTC said.
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