Tesla Vehicles Megathread

[ohyea]

If you hadn't changed the title nobody would need to.
The actual OP title:

Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say​

Workers in Nevada

 

[Yommie]

Electric car sales could plummet as only 18% of drivers want an EV and Tesla SLASHES workforce​

 

[Yommie]

Loading…

www.reuters.com

Tesla laying off more than 10% of staff globally as sales fall​

By Victoria Waldersee
April 15, 20246:44 PM EDTUpdated 19 hours ago

Tesla to lay off over 10% of its staff - memo

BERLIN, April 15 (Reuters) - Tesla (TSLA.O), opens new tab is laying off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs).
"About every five years, we need to reorganize and streamline the company for the next phase of growth," CEO Elon Musk commented in a post on X. Two senior leaders, battery development chief Drew Baglino and vice president for public policy Rohan Patel, also announced their departures, drawing posts of thanks from Musk although some investors were concerned.
Advertisement · Scroll to continue
Report this ad
Musk last announced a round of job cuts in 2022, after telling executives he had a "super bad feeling" about the economy. Still, Tesla headcount has risen from around 100,000 in late 2021 to over 140,000 in late 2023, according to filings with U.S. regulators.
Baglino was a Tesla veteran and one of four members, along with Musk, of the leadership team listed on the company's investor relations website.
Advertisement · Scroll to continue
Report this ad
Scott Acheychek, CEO of Rex Shares - which manages ETFs with high exposure to Tesla stock - described the headcount reductions as strategic, but Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, deemed the departures of the senior executives as "the larger negative signal today" that Tesla's growth was in trouble.
Less than a year ago, Tesla's chief financial officer, Zach Kirkhorn, left the company, fueling concerns about succession planning.
Advertisement · Scroll to continue
Report this ad
Tesla shares closed 5.6% lower at $161.48 on Monday. Shares of EV makers Rivian Automotive (RIVN.O), opens new tab, Lucid Group (LCID.O), opens new tab and VinFast Auto also dropped between 2.4% and 9.4%.
"As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity," Musk said in the memo sent to all staff.
"As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally," it said.

Reuters saw an email sent to at least three U.S. employees notifying them their dismissal was effective immediately.
Tesla did not immediately respond to a request for comment.

MASS MARKET​

The layoffs follow an exclusive Reuters report on April 5 that Tesla had cancelled a long-promised inexpensive car, expected to cost $25,000, that investors have been counting on to drive mass-market growth. Musk had said the car, known as the Model 2, would start production in late 2025.
Shortly after the story published, Musk posted "Reuters is lying" on his social media site X, without detailing any inaccuracies. He has not commented on the car since, leaving investors and analysts to speculate on its future.

A Tesla car is seen in Santa Monica, California, United States, October 23, 2018. REUTERS/Lucy Nicholson/File Photo Purchase Licensing Rights, opens new tab
Tech publication Electrek, which first reported, opens new tab the latest job cuts, said on Monday that the inexpensive car project had been defunded and that many people working on it had been laid off.
Reuters also reported on April 5 that Tesla would shift its focus to self-driving robotaxis built on the same small-car platform. Musk posted on X that evening: "Tesla Robotaxi unveil on 8/8," with no further details.
Tesla could be years away from releasing a fully autonomous vehicle with regulatory approval, according to experts in self-driving cars and regulation.
Tesla shares have fallen about 33% so far this year, underperforming legacy automakers such as Toyota Motor (7203.T), opens new tab and General Motors (GM.N), opens new tab, whose shares have rallied 45% and about 20% respectively.
Energy major BP (BP.L), opens new tab has also cut more than a tenth of the workforce in its EV charging business after a bet on rapid growth in commercial EV fleets did not pay off, Reuters reported on Monday, underscoring the broader impact of slowing EV demand.

WORKS COUNCIL​

A newly elected works council of labour representatives at Tesla's German plant was not informed or consulted ahead of the announcement to staff, said Dirk Schulze, head of the IG Metall union in the region.
"It is the legal obligation of management not only to inform the works council but to consult with it on how jobs can be secured," Schulze said.
Analysts from Gartner and Hargreaves Lansdown said the cuts were a sign of cost pressures as the carmaker invests in new models and artificial intelligence.
Tesla reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.
The EV maker has been slow to refresh its aging models as high interest rates have sapped consumer appetite for big-ticket items, while rivals in China, the world's largest auto market, are rolling out cheaper models.
China's BYD (002594.SZ), opens new tab briefly overtook the U.S. company as the world's largest EV maker in the fourth quarter, and new entrant Xiaomi (1810.HK), opens new tab has garnered substantial positive press.
Tesla is gearing up to start sales in India, the world's third-largest auto market, this year, producing cars in Germany for export to India and scouting locations for showrooms and service hubs in major cities.
Tesla recorded a gross profit margin of 17.6% in the fourth quarter, the lowest in more than four years.

 

[Yommie]

Tesla Cybertruck NEW update brings steering and charging changes​

 

[Yommie]

Tesla asks investors to vote on Musk’s $56 Billion that was cancelled by judge​

 

[Yommie]

NEW Tesla over the air software updates include Sentry change, Audible & more​

 

[Yommie]

The REAL reason Tesla is 'delaying' NOT cancelling Model 2 production​

 

[Yommie]

Tesla slashes Supercharging fee 27% - cheapest in U.S, Europe, Australia & UK​

 

[Yommie]

Tesla starts shipping Model 3 Ludicrous from Giga Shanghai with 600HP​

 

[Yommie]

Tesla is stockpiling huge amounts of batteries in America...​

 

[Yommie]

Tesla Cybertruck NEW update brings steering and charging changes​

 

[Yommie]

Tesla Cybertrucks to be recalled due to serious danger 09:01 - Social Bites

American automaker Tesla will recall 3,878 Cybertruck pickups for repairs. In this respect reports Bloomberg. It is stated that the vehicle's accelerator pedal may move, which may cause the vehicle to accelerate accidentally, thus increasing the risk of an accident. Tesla said the Cybertruck...

socialbites.ca

Tesla Cybertrucks to be recalled due to serious danger 09:01​

ByANIKA
April 20, 2024

American automaker Tesla will recall 3,878 Cybertruck pickups for repairs. In this respect reports Bloomberg.
It is stated that the vehicle’s accelerator pedal may move, which may cause the vehicle to accelerate accidentally, thus increasing the risk of an accident. Tesla said the Cybertruck could “fall” and get caught in the interior trim if the accelerator pedal is pressed too hard.
All repairs for Tesla Cybertruck owners will be carried out free of charge at dealerships.
It happened before that knownTesla will recall 2.2 million vehicles for repairs. The recalled vehicles had small font warning messages on the dashboard. This applies to Model S, Model X, Model 3, Model Y and Cybertruck.
Previously reportedTesla will recall more than 1.6 million vehicles in China due to software problems.





Source: Gazeta

 

[Yommie]

Tesla’s biggest retail shareholder votes against Elon Musk’s $55 billion​

 

[Yommie]

Tesla slashes the price of the Model Y, Model X and Model S as sales slow​

 

[Yommie]

Elon Musk’s Tesla Roadster has traveled 3.1 Billion miles​