Tesla co-founder and CEO Elon Musk on stage with the newly unveiled all-electric battery-powered Tesla Cybertruck with broken glass on windows following a demonstation that did not quite go as planned on November 21, 2019 at Tesla Design Center in Hawthorne, California. - Tesla introduced a new electric sports utility vehicle slightly bigger and more expensive than its Model 3, pitched as an electric car for the masses. PHOTO BY FREDERIC J.BROWN/GETTY IMAGES
The electric vehicle space saw some buoyancy in the week ending on July 7 despite the weakness seen in the broader market. Positive headlines from EV companies proved healthy for the industry, sending stocks mostly higher.
Skeptics saw the development as reflecting weak demand and raised concerns about its impact on the company’s margins.
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