Last week, Tesla CEO Elon Musk slashed the price of the Model 3 to $35,000 as a part of a larger strategy to compete against conventional car makers and increase profitability. In a letter sent to employees, Musk disclosed that the company generated its first profit in the third quarter of last year and will prioritize financial stability in the years ahead. The substantial cut in the pricing of the Model 3, which the company hopes will increase the sales of its most affordable model in the global market, still poses a risk to the firm’s profitability. To alleviate the
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