Mr. Musk is testifying in a lawsuit filed by investors who claim that his statements about a plan to take Tesla private in 2018 caused them to lose billions of dollars.
The chief executive of Tesla testified in a federal civil trial about a 2018 plan to take the automaker private that fizzled out.
Investors are seeking billions of dollars in damages for their losses after Mr. Musk posted a proposal on Twitter that never materialized.
The price reductions in the United States will make more of the company’s electric vehicles eligible for a federal tax credit.
Worry about the carmaker’s sales in the world’s largest car market is one reason the shares have plunged.
The company’s rapid growth is expected to ease as the economy slows and demand for its electric cars weakens.
Investors blame Elon Musk and wonder how much more the stock will fall.
The maker of electric cars faces sharp competition, plummeting shares and production woes while its chief executive is preoccupied with Twitter.
Corporate governance experts say the electric-car maker’s directors may need to rein in the chief executive, with whom many have personal ties.
The billionaire chief executive testified about a multibillion-dollar compensation package the electric car company’s board put in place in 2018.