Tesla shares has fallen by 2.4% after the manufacturers from Detroit to Japan unveiled a new competition for the buyers in electric car maker’s key market at the Detroit Auto Show.
Bill Ford – The chairman of Ford said on Sunday, the company is having the plans to add hybrid and completely electric vehicles in its lineup and also investing $11 billion in electric cars by the year of 2022.
The CEO Jim Hackett told to CNBC that
We talked about a huge investment in electric vehicles. We have 16 models that are in design and development. We have a pretty big surprise coming in 2020.
GM (General Motors) CEO Mary Barra told to the investors on Friday that the company is working on all-electric Cadillac, details were not revealed but it is expected to be an SUV.
Infiniti – The Luxury brand of Nissan announced that all the future models they are starting in 2021 will be electrified which means that those will be either plug-in hybrid or all-electric as the brand has rolled out QX Inspiration at Detroit. Moreover, Nissan also presented the new all-electric leaf at CES 2019 in Las Vegas.
Ford’s shared were jumped up 2.1% while the General Motors shares increased by 1.6%. However, Tesla’s spokesman Dave Arnold declined to comment.
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