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Tesla faces pressure as EV competition heats up, ex-Ford CEO says

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Elon Musk brought electric vehicles into the mainstream with Tesla. Now the EV company is grappling with the consequences of its own innovation, former Ford Motor CEO Mark Fields told CNBC on Wednesday.

“One of the many things he did is he pushed the industry toward taking EV seriously,” Fields said of Musk, the chief executive of Tesla. “He has real competition now, and that’s why you’re seeing some of their share in some of the major markets under a lot of pressure.”

Tesla shares fell for the third-straight session against the backdrop of multiple challenging headlines for the car manufacturer. One, in particular, is that the San Carlos, California-based company lost some of its grip on…



Source cnbc.com

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