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in Tech

Tesla slides 3% in premarket, Li Auto sinks 8% as EV makers slash prices amid fierce competition

by Editor April 22, 2024, 12:34 pm 1.9k Views

Tesla slides 3% in premarket, Li Auto sinks 8% as EV makers slash prices amid fierce competition

Pedestrians walking past a Tesla store in Shanghai, China, on March 14, 2024.

CostFoto | Nurphoto | Getty Images

Tesla shares sank 3% in premarket trading Monday, while China’s Li Auto plummeted to an 11-month low, after both companies slashed prices of their electric vehicles in various markets amid intense competition.

U.S. EV giant Tesla cut the starting price of its

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to 231,900 yuan ($32,000) on Sunday, a reduction of…

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