Elon Musk Announces Plans for a Brand New Tesla Factory and Affordable Car for all

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Musk may confirm reports of Tesla setting up a new factory in Monterrey, Mexico, which could become the company's fifth car plant.

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The delayed Cybertruck is scheduled to go on sale before the end of the year.

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There is also a speculation that Musk may announce plans for an affordable Tesla car.

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Tesla has been strongly criticized for slow introduction while competitors such as Hyundai, Volkswagen, and Ford are swiftly moving up with a variety of products.

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Analysts and investors are keen to hear about Tesla's new battery technology, especially the production of the more efficient and the energy-dense 4680 battery cell.

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The event in Austin, Texas, might calm down investors as complaints that Musk's focus on Twitter is hurting his car company.

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Chinese automaker BYD has overtaken Tesla in electric vehicle sales in China and is now inching ahead into Europe, threatening Tesla's dominance in the region.

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Tesla's share price recovered little but is still down almost 50% from its high in November 2021. This can make Wednesday's event crucial for investors' and their confidence in the company.

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Elon Musk Announces Plans for a Brand New Tesla Factory and Affordable Car for all