From fortune.com:

Elon Musk lowers prices of Tesla’s flagship cars in an effort to boost demand amidst an EV market slowdown, at the risk of sacrificing profitability. Stellantis CEO Carlos Tavares cautions of a “race to the bottom” for automakers cutting prices amid a market leader’s brutal price cuts and profitability collapse.
An EV market slowdown is leading manufacturers to pull back on EV investment. Ford and GM are reporting losses while Tesla remains ahead, but at a cost.
Stellantis CEO Tavares warns of a possible “bloodbath” if EV manufacturers cut pricing and disregard costs. Automakers including Ford and GM are experiencing losses and struggling to keep up.
Tesla’s recent price cuts have reduced its profit margin by over 40% year-over-year. However, with interest rates high, Tesla needs to keep cutting prices to keep monthly payments low enough for consumers.
Stellantis is also reducing costs by closing factories and laying off workers. Neither Tesla nor Stellantis have commented on these recent developments.



Read more: Stellantis CEO warns of electric vehicle ‘bloodbath’ if industry follows Elon Musk in ‘race to the bottom’