Tesla stock lower on report Musk will make a $27,000 EV at Berlin factory (Video)

Tesla is reportedly planning to produce a lowprice electric vehicle EV at its Berlin Factory the car is expected to sell for as little as $27,000 Which is less than half the average price of EVS in the region Tesla CEO Elon Musk hinted at these plans during a recent visit to the factory the company is focused on winning market share in the global EV Market even if it means sacrificing short-term profits Tesla's overall profit margins have narrowed but musk believes that a lower pric car could help boost affordability and counter the impact of higher interest rates while Tesla aims to increase market share it also faces challenges such as labor costs and pressure from union leaders musk recently announced a 4% pay rise for Berlin workers but Tesla's pay still Falls below competitors like Ford and General Motors despite musk's anti-union stance there are efforts to organize Tesla workers in the US under the United Auto Workers Union however Tesla pursuit of a low price EV could help offset these challenges and further its goal of dominating the EV Market following the news of Tesla's plans the company's stock dipped by 1.8% in early afternoon trading market news short amp Suite