Tesla Inc (TSLA.US) stock fell 3% after CEO Elon Musk indicated ongoing challenges for the electric vehicle maker in particular with the Semi program which develops the electric semi-trucks. Musk tweeted that “We are too cell-constrained right now, but probably ok next year” which dampened expectations regarding the number of cell and electric truck production numbers.
In January Musk said that insufficient number of cells is the reason why Tesla does not accelerate the introduction of new products such as Semi which relies on producing more 4680 cells. Deliveries of the Plaid Plus S which also uses 4680 cells, have also been postponed to mid-2022. At the moment Tesla produces the new cylindrical batteries at its Fremont factory and current level is expected to remain unchanged until production begins at Gigafactory in Texas, Electrek said.
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Tesla Inc (TSLA.US) stock launched today's session lower and is currently testing lower limit of the triangle formation. Should a break below occur, then downward move may accelerate towards support at $542.74. On the other hand , if buyers will manage to regain control, then upward impulse towards local resistance at $654.21 could be launched. Source: xStation5
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