$50 billon lost in just minutes as Tesla's stock tumbles over 8%

Investor Day disappoints as firm says it would cut EV production costs by 50%, and remains silent on the much-awaited affordable car

Tesla will cut assembly costs by half in future generations of cars, engineers told investors on Wednesday, but Chief Executive Elon Musk did not unveil when it will debut a much-awaited affordable electric vehicle.
 

Tesla’s much-awaited investor day failed to live up to the hype, and the shares of the electric vehicle maker are paying the price. 

Share price of the Elon Musk-led company tumbled as much as 8.3 per cent to $186.01 in New York on Thursday, the biggest intraday plunge since January 3. 

More than a dozen Tesla executives led by Musk discussed everything from a white-paper