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Tesla's stock has plummeted to $430, significantly below its target of $515, amid increasing competition and tariffs, leading to a ninth consecutive week of losses. Major banks, including JP Morgan and Wells Fargo, have downgraded their price targets, citing weak demand and stagnant sales across key markets like Europe and China. Analysts express concerns over Tesla's future, with some predicting continued challenges without new vehicle launches.
Tesla is offering one year of free European Supercharging for Model Y buyers before December 31, 2024, aiming to boost sales. The Model Y remains popular in Europe and China, with significant sales growth reported. Additionally, Tesla has entered the Philippine market, opening its first Experience Center and planning to deploy Supercharger stations across the country.
The US faces a lithium supply challenge, exacerbated by the booming EV market and environmental concerns over mining. Innovative solutions include lithium extraction from geothermal brine and oil drilling waste, with the Smackover Formation in Arkansas showing significant potential, estimated at up to 19 million tons. As companies like ExxonMobil pivot towards lithium production, the focus also shifts to reducing overall lithium demand through sustainable transportation alternatives.
Zachary Shahan
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Tesla stock faces continued decline amid competition and demand concerns
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15:09 18.03.2025
Tesla Model Y sales surge with new incentives and market expansions
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22:59 20.11.2024
US explores diverse solutions to address lithium supply challenges for electric vehicles
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