Tesla's success stemmed from realizing lithium-ion laptop cells could power cars with sufficient quantity, thanks to Elon Musk's funding, starting an electric vehicle revolution.
While Musk's leadership led to profitable sales and devoted customers, concerns arose over overhyping products and delays, with 1 in 5 Model 3 reservation holders demanding refunds due to delays of cheaper models.
Increased competition in the EV market has pushed Tesla to reduce prices, diminishing its once impressive profit margin to 5.5%, as it strives to make cars cheaper to build by reducing content, impacting the driving experience.
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