Tesla has cut prices on most of its electric cars in the US and Europe by as much as 20 per cent in a bid to spur slackening demand, the New York Times has reported. The automaker faces increasingly stiff competition in the global market for electric vehicles. It also must contend with rising interest rates in the US, which have increased the cost of financing vehicle purchases, according to New York Times. "I think Tesla recognises they are not the only game in town and the Detroit companies are jumping into the deep end with EVs," said Dan Ives,...