Tesla (TSLA) Cybertruck Launch: Factors Bringing Down E.V. Prices

The successful Cybertruck launch was not very important to Tesla’s (TSLA) future, but the “Star Wars” design makes it a great marketing story, notes Steve Westly. He discusses the status of the E.V. market segment. He talks about how at $70K-$80K there will be a small market until they lower prices. He then compares the Cybertruck to Ford’s (F) F-150, highlighting that the F-150 has been the best-selling U.S. vehicle for 41 years. Westly mentions that if TSLA can lower the price of the Cybertruck like with the Model 3 and Y, it could cut into Ford and Rivian’s (RIVN) sales. He also goes over E.V. challenges facing legacy automakers. Additionally, he looks at factors bringing down E.V. prices. Tune in to find out more about the stock market today.