Tesla Again Cutting Price of Model S, Musk Says

For the second time in a matter of only days, Tesla (NASDAQ: TSLA) is reducing the price of its Model S sedan. That's according to the company's colorful CEO Elon Musk, who announced this in a Wednesday afternoon tweet, reading in its entirety:

The gauntlet has been thrown down! The prophecy will be fulfilled. Model S price changes to $69,420 tonight.

The contest Musk appears to be referring to is with Lucid Motors, a privately held rival whose CEO and CTO is one-time Tesla executive Peter Rawlinson. Earlier on Wednesday, Lucid announced that the starting price of its upcoming Lucid Air sedan would be $69,900, once a federal tax rebate kicks in.

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Source Fool.com