Tesla has introduced more affordable editions of its Model S sedan and Model X SUV within the U.S. market.

This strategic move aims to bolster sales amidst a reduced demand for high-priced electric vehicles due to elevated borrowing expenses

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Following the announcement, Tesla's stock witnessed a 2.6% decline.

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Similar repercussions were observed among competitors such as Rivian (RIVN.O) and Lucid (LCID.O), both facing drops in stock value.

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Investor apprehensions are surfacing regarding the potential emergence of a price competition scenario in the electric vehicle sector.

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These new Tesla versions come equipped with shorter driving ranges.

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Rivian's stock encountered a decrease of 3.5%, while Lucid's stock experienced a notable loss of 5.6%.

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This strategic maneuver by Tesla is strategically positioned to counteract the market impact caused by challenges in demand due to borrowing-related factors.

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Top 10 Waterfalls in the World

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