Tesla’s gift to short sellers and why Africa is in the mix!

Shares of Tesla the pioneer of electric vehicles fell spectacularly in 2022. This trend was the same for auto shares which list substantial amounts of value during the year. Tesla despite its anemic showing in terms of share price performance managed to deliver a record number of EVs. The EV company increased production of its products by as much as 40%. This impressive development by Tesla failed to excite the market which hammered the share price resulting in the EV company shedding 64% of its value in 2022. Notwithstanding the skepticism from the market Tesla has been making positive strides with its Gigafactory initiatives. Africa has been the focus of the Gigafactory initiatives by Tesla. A Gigafactory is a massive manufacturing facility that aims to speed up and scale up the manufacture of electric vehicles. The Gigafactory concept will contribute substantially to the economic wellbeing of African countries where Tesla has either set up operations or has partnerships. The investments in Africa by Tesla through its Gigafactories are set to benefit Europe which is in need of new and better ways to conserve energy. Astute investors made money from the decline in value of Tesla shares through a strategy called