Tesla's market cap sinks below $1 trillion as stock slumps more than 8%

Elon Musk, chief executive officer of Tesla Inc., in the Oval Office of the White House in Washington on Tuesday, Feb. 11, 2025. Other EV makers in China, including BYD , offer their partially automated driving systems for free or a much lower cost. Xiaomi's popular model SU7 includes the company's equivalent technology as a standard option for free. The latest slide followed a report from Reuters on Monday that Tesla's long-awaited upgrade to its partially automated driving systems left owners disappointed. Many users told the publication that Tesla's "navigate on city streets" feature in China fell short of Musk's promises for self-driving technology. The stock has plummeted 25% to start the year, while the Nasdaq is down just 1.5%, and has slid more than 35% from its record close on Dec. 16. CEO Elon Musk has lost over $100 billion in net worth over that stretch, though he's still the world's richest person, with a fortune valued at about $380 billion. Shares of the electric veh ... Read full article.