Tesla unveils new Model Y and 3

Tesla unveiled lower-cost versions of its Model Y and Model 3 yesterday, priced at $39 990 and $36 990 in North America, aiming to offset the loss of the $7 500 US electric vehicle tax credit and fend off intensifying global competition.

These new Tesla models come without luxury features but still offer over 515 kilometres of range, making them Tesla's most affordable EVs yet.

While Elon Musk continues to promote Tesla's future in AI, self-driving tech, and robotics, the company still remains heavily reliant on its car business - one that's been under pressure from falling sales, fading subsidies, and a consumer backlash against Musk's politics.

Tesla shares fell 4.5% after the announcement, as investors weighed the short-term hit of slimmer margins against long-term potential in automation.

I think Tesla still wants to recapture more market share in EVs by offering a wide variety of models, from affordable to high-end luxury. If executed successfully, the EV King will reign supreme once again.