Over the past week, Tesla has experienced a market capitalization decline of more than $77 billion, attributed to a sales downturn in China and an arson incident near the company’s German factory.

The current valuation of the Austin, Texas-based electric vehicle maker stands at approximately $566.34 billion, a notable decrease from the $643.46 billion market cap recorded on February 28th.

Since January 2nd, Tesla has witnessed a total market valuation drop of approximately $224 billion.

On Tuesday, Tesla shares saw a nearly 4% decrease, closing at $180, following a more substantial 7% decline on Monday, Quartz reported.

The downtrend continued with a slight dip in premarket trading on Wednesday.

Written by B.C. Begley