For the second time in one week, Elon Musk announced on Twitter that Tesla will slash the price of the Model S. First around USD $71,000 and then to just under USD $70,000.
One reason for the price cut is increased competition. Tesla is now battling a rising tide of EV manufacturers.
For example, Lucid announced that its entry-level sedan will cost USD $77,400 minus a USD $7,500 tax credit. This brings the effective price down to USD $69,900. You see where this is headed, right?