What happened Tesla (NASDAQ: TSLA) shares have started off the week on a negative note. A report from The Wall Street Journal that Honda and South Korea-based LG Energy Solution plan to build a new $4.4 billion electric vehicle (EV) battery factory in the U.S. may have investors realizing that an increased level of competition isn't that far away for Tesla. Having batteries manufactured in the U.S. will help the automaker and its vehicles qualify for incentives included in the recently signed Inflation Reduction Act (IRA).