Mercedes & # 39; s electric SUV takes Tesla shares to lows in May – Companies



Tesla continues to experience difficult days on the capital market. After pressure from the statements of its controversial CEO, Elon Musk, the manufacturer of luxury cars is now being punished by competition.

Mercedes, the world leader in luxury cars, launched the first model in its electric car series on Tuesday. The German company's interest is strong – the investment exceeds 10 billion euros – and the launch is seen as an attack on Tesla.

During yesterday's session, Tesla dropped by more than 4% and has now dropped by 3% after trading for less than $ 280 for the first time since May this year.

Since Musk revealed on Twitter that he was considering stopping Tesla from trading – a plan that has since been abandoned – the shares of the fully electric automaker have lost about 25 percent of their value.

But it is not only the actions that are in negative territory. Distrust of investors is also visible in the bond price. The value of bonds issued last year reached a low point on Wednesday, with revenues reaching 8%.

The first unit in the Mercedes EQ series is an electric SUV. The production of the EQC 400 4Matic starts in the first half of next year at the plant in Bremen, where the class C is produced The model will be a direct competitor of Tesla's Model X, but also of Taycan of Porsche, E-tron Audi and I-Pace from Jaguar. Automobiles with a sales price of more than $ 70 thousand.

Tesla shares have also been penalized with negative recommendations from analysts. Goldman Sachs reiterated the recommendation to sell for the bonds.


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