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submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

Tesla's value plunged nearly $200 billion since mid-July โ€“ and the EV maker faces a bumpy road ahead::Tesla shares closed Tuesday at just over $233, well down on their 2023 peak of $291.

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[-] skymtf@pricefield.org 26 points 1 year ago

I'm surprised this isn't just because of there being more competitors to Tesla like rivian. Tbh though I dislike cars, I just have to use them sadly.

[-] Diplomjodler@feddit.de 16 points 1 year ago* (last edited 1 year ago)

There aren't any. By volume Tesla is still the biggest EV maker by far. The competition is nowhere close to catching up. If they screw up the launch of the Cybertruck, they'll really be in trouble, though. Also, the valuation is to a large degree based on the promise of full self driving. That seems to be an increasingly distant prospect, though.

[-] steltek@lemm.ee 16 points 1 year ago

Hasn't the F-150 has already preemptively destroyed the Cybertruck? I suppose most people driving pickups don't actually need a pickup's functionality. They're just told they need a pickup so that's what they buy.

[-] CADmonkey@lemmy.world 10 points 1 year ago

I see more F150 Lightning trucks than I do model 3 cars, and this is in a red state full of people who are scared of electric vehicles.

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this post was submitted on 23 Aug 2023
649 points (97.0% liked)

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