Subsequently, production was complicated by the arrival of Covid and the problems in the supply chains, which is why they delayed their departure from the factory even more. In April of this year, the manufacturer had indicated that the start of production of this truck was “on track” according to plan and finally, this weekend, the first unit came out.
After the news broke, Tesla shares rose more than 3%, but at midday the momentum waned and they were trading up 2.85% at $289.39.
Price war on electric cars
Ford Motor on Monday intensified the price war in the electric vehicle (EV) sector by lowering the values of its F-150 Lightning trucks, including a 17% cut for the base model, with the aim of increasing its share in a market dominated by Tesla.
Ford shares sank about 5%. Rival General Motors also fell 3%, while EV maker Rivian lost 3.8%.
The Detroit automaker, which had raised Lightning prices this year, said it was able to cut prices thanks to scale improvements and raw material costs for the batteries.
The move comes amid a price war started by Tesla a few months ago, which has seen EVs from automakers piling up at dealerships as sales slow. In the quarter through June, Ford EV sales fell 2.8%.