Tesla has announced that it's cutting the prices of all three of its electric car models in the US by $2,000 to counteract reduced tax benefits on electric cars.
While buyers would get tax benefits of up to $3,750 for vehicles delivered through June 30, 2019, the figure is set to drop by 50 percent to $1,875 for the second half of the year before being withdrawn entirely in 2020.
The news of the price-cut has raised concerns about profitability among analysts and investors, battering the company's share prices by around 6.8 percent at the NYSE.