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Chinese EV stocks tank after Tesla earnings disappoint

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Shares of Chinese EV makers plunged Thursday morning after Tesla CEO Elon Musk delivered grim news on Tesla's outlook.

Hong Kong-listed shares of Chinese EV makers plunged Thursday morning after Tesla CEO Elon Musk delivered grim news on Tesla's outlook on Wednesday.

During Tesla's earnings call Wednesday, Musk cautioned that the Tesla Cybertruck – its battery electric full-size pickup truck model – would not deliver significant positive cashflow for 12 to 18 months after production begins.

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