Tesla’s Major Updates: New Battery Breakthrough & Lower Growth Projections - May 24, 2024

Welcome to Brief Buzz, your quick source for the latest in Tesla news!

In today’s update, we cover:

1. 4680 Battery Cell Cost Reduction: Tesla expects its 4680 battery cells to be cheaper than those from suppliers by the end of 2024. Learn about the innovations behind these cells and what this means for the future of Tesla’s vehicles.
2. 2024 Growth Projections: Tesla warns of ‘notably lower’ growth in vehicle sales for 2024. We’ll dive into the reasons behind this forecast and how the company’s energy storage business is set to outperform.
3. New Lunar Grey Option: Check out the new $2,500 Lunar Grey color option for the Model S and Model X, offering more personalization for Tesla’s premium models.
4. Market Reactions: Tesla’s stock surged 13% after announcing plans to accelerate the launch of more affordable vehicle models. We’ll discuss investor reactions and market implications.
5. Challenges in the EV Market: Despite these positive updates, Tesla faces several challenges, including increased competition and economic uncertainties. Find out how these factors might impact the EV market.

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Sources:

• Electrek
• Electrek
• Electrek
• The Motley Fool
• TechCrunch

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