Tesla Motors CEO Elon Musk says falling gas prices are a major concern, as they will complicate efforts to produce the company’s affordable car set to release in 2017, Bloomberg reports.
“It just means we will have to work harder at improving the cost of electric vehicles,” he says.
Musk made his comments at the North American International Auto Show on Tuesday.
Tesla’s sales are down in China, where consumers are concerned about how they can recharge their cars at home. As a result, sales in the fourth quarter took a major hit in the country, and now the company’s stock is getting hammered.
Musk says “China is a small percentage of our sales right now,” calling the market as “a wild card that seems to change for reasons we don’t understand.”
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