Tesla has literally launched a price war with its rivals as it announced on Friday (January 13) that it will cut the price of its best-selling electric vehicle (EV) models.

Tesla slashes price of its best-selling electric vehicle models in US, Europe

After Elon Musk's decision to take over Twitter, Tesla shares collapsed over 12 per cent wiping out nearly $25 billion from Musk's fortune as Tesla's market capitalisation fell by $126 billion.

After Twitter deal, Tesla shares crash; Musk loses billions

Shares of Tesla ended sharply lower in their S&P 500 debut Monday, with losses accelerating after news of potential future competition from Apple.

Tesla tumbles 6.5% from record high in S&P 500 debut