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Tesla's value drops US$50 billion as Musk's promised cheaper battery three years away

By Tina Bellon, Noel Randewich and Akanksha Rana

Sep 23 2020 12:00PM

"There was nothing tangible."

Tesla's value drops US$50 billion as Musk's promised cheaper battery three years away

Investors slashed US$50 billion from Tesla's market value on Tuesday despite CEO Elon Musk's promise to cut electric vehicle costs so radically that a US$25,000 car that drives itself will be possible, but not for at least three years. Tesla's market cap dropped US$20 billion in ...

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