Tesla’s share fall wipes out $73-bn mcap

London: Shares in Tesla plunged as much as 11 per cent after the market opened, wiping $73 billion off the company’s market value hours after it warned of slowing growth in electric car sales and an existential threat from Chinese rivals, according to media reports.

In an earnings presentation Wednesday, the world’s most valuable automaker said its sales growth this year “may be notably lower” than last as it continued developing the “next-generation” vehicle, likely a lower-priced model.