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Tesla News
Mobilesyrup
13h
50
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Tesla enters fourth week of layoffs
- Tesla is entering its fourth week of layoffs, affecting various departments including engineering and software services.
- At least seven employees have reported being laid off, in addition to the 500-person EV charging department.
- An email from Tesla to its employees revealed plans to lay off at least 14,000 people, or 10 percent of its workforce.
- Tesla's sales and profits have been declining, prompting CEO Elon Musk to unveil a new autonomous vehicle and promise to bring an affordable model to market.
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Teslarati
17h
228
Image Credit: Teslarati
Tesla moves key auto executive amidst layoffs and departures
- Tesla's Senior Vice President of Automotive, Tom Zhu, is reportedly moving back to China to resume his role as SVP of Greater China.
- This move comes as multiple executives have departed from the company amidst a larger restructuring effort and layoffs.
- Zhu played a crucial role in helping Giga Shanghai ramp up production and oversaw manufacturing and sales globally as SVP of Automotive.
- Tesla recently gained tentative approval for its Full Self-Driving software in China, which could generate significant earnings in the Chinese market.
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Teslarati
18h
169
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Tesla launches new round of layoffs in massive cost-cutting offensive
- Tesla has launched a new round of layoffs as part of its cost-cutting offensive.
- The layoffs are aimed at saving money as Tesla focuses on bringing its next-generation lineup of vehicles to market.
- Several employees have reported receiving communications from Tesla that they are no longer part of the company's plans.
- The layoffs may be more extensive than the initial 10% reduction mentioned in a filing with the SEC.
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Teslarati
18h
273
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Tesla Optimus to receive hands with 22 degrees of freedom later this year
- Tesla's humanoid robot, Optimus, will receive an upgrade to have 22 degrees of freedom (DoF) in its hands later this year.
- Optimus' hands already have 11 DoF, which is considered among the best in the industry.
- The improved hands will bring Optimus closer to human-like dexterity, as human hands have 27 DoF.
- Tesla CEO Elon Musk mentioned that Optimus could enter limited production by the end of 2024, with the possibility of external sales by 2025.
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CarExpert
5h
165
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How Tesla’s global layoffs are impacting Australia
- Tesla continues to cut its global workforce, impacting its operations in Australia.
- Head of Tesla's Supercharger division and other employees have been fired.
- Tesla's layoffs have entered a third week, affecting various departments.
- The rollout of Tesla Superchargers in Australia has been paused indefinitely.
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Teslarati
6h
87
Image Credit: Teslarati
Rivian & Apple allegedly discussing potential partnership
- Rivian and Apple are allegedly discussing a potential partnership.
- The partnership would help Rivian improve the upcoming R2 and R3 vehicles and give Apple a chance to release some of the technology it was developing for its electric vehicle (EV), Project Titan.
- A partnership with Apple could be very beneficial to Rivian, as it could improve its autonomous driving feature with Apple's AI tech.
- Rivian plans to expand its R2 production facility in Illinois and construct an EV plant in Georgia for R2 and R3 production.
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Insider
7h
594
Image Credit: Insider
Elon Musk is tightening his grip on Tesla
- Tesla's top executive Tom Zhu has been reassigned to China, signaling Elon Musk's tightening grip on the company.
- Zhu, previously in charge of Tesla's US plants and sales, has been named VP of China.
- Musk has regained control of Tesla's North American sales operations.
- This move comes as Musk consolidates power ahead of the vote on his $47 billion pay package.
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Insider
7h
731
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Elon Musk says there are too many non-technical managers at Boeing
- Tesla CEO Elon Musk suggests that Boeing has too many non-technical managers.
- Musk's comment comes ahead of Boeing's Starliner launch attempt.
- Boeing received $4.2 billion from NASA to develop an astronaut capsule, while SpaceX received $2.6 billion, yet SpaceX finished their project 4 years sooner.
- Musk believes there is a problem with the number of non-technical managers at Boeing.
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Automotiveaddicts
7h
716
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Tesla Lays Off Additional Staff, Includes Engineering, Software, and Service Departments
- Tesla initiates another round of staff layoffs, affecting software, service, and engineering departments.
- The decision comes amidst declining sales and increased competition in the electric vehicle market.
- Tesla expects to incur expenses exceeding $350 million in Q2 due to the layoffs.
- Despite setbacks, Tesla remains committed to innovation and plans to optimize operations in the automotive industry.
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Pymnts
8h
713
Image Credit: Pymnts
Tesla Cutting Jobs Across Departments as Part of Restructuring
- Tesla has laid off employees across several departments over the last three weeks.
- The job cuts follow the automaker's announcement of laying off 10% of its workforce.
- Layoffs have affected workers in software, service, and engineering roles.
- Tesla expects the layoffs to reduce costs by more than $350 million in the second quarter.
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20 Likes
Teslarati
10h
68
Image Credit: Teslarati
Lucid’s mid-size ‘Model Y competitor’ slated for late 2026 production
- Lucid Motors plans to release a mid-size electric vehicle (EV) aimed at competing with the Tesla Model Y.
- The mid-size vehicle is expected to be priced around $48,000 and begin production in late 2026.
- Lucid CEO Peter Rawlinson believes the mid-size EV will be a game changer, offering affordability and unrivaled efficiency.
- Lucid is currently preparing to manufacture the Gravity SUV and highlighted its partnership with Aston Martin during its Q1 earnings call.
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Teslarati
12h
104
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Lucid reports $173 million in revenue and $684.7 million net loss in Q1
- Luxury electric vehicle maker Lucid Motors reported its Q1 earnings.
- Lucid reported a net loss of $684.7 million, down from $779.5 million in the same period last year.
- The company reported revenue of $173 million, compared to $149 million in Q1 2023.
- Lucid ended the quarter with cash equivalents of $2.2 billion, up from $1.4 billion in Q4.
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6 Likes
Teslarati
15h
51
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Nio to unveil Onvo L60 to launch mass-market EV sub-brand
- Nio is set to unveil a new model, the L60, under its mass-market brand called Onvo.
- The company also plans to launch a smaller EV targeting a sub-$30,000 price range next year.
- Nio aims to sell the smaller EV in Europe under a separate sub-brand.
- Both the Onvo and the upcoming sub-brand will focus on the European market.
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Insider
18h
324
Image Credit: Insider
Elon Musk wants Tesla Model Y drivers to pay to unlock more range
- Elon Musk has announced that Tesla Model Y vehicles built over the past few months have an extra 40 to 60 miles of range that can be unlocked.
- The additional range can be obtained by paying an extra $1,500 to $2,000, pending regulatory approvals.
- This is not the first time Tesla has offered increased range for an additional fee, as they previously did with the Model S.
- The decision to charge for unlocked range is becoming a trend in the auto industry as a means of generating revenue.
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19 Likes
Teslarati
19h
284
Image Credit: Teslarati
Morgan Stanley posts optimistic Tesla FSD expectations after V12.3.6 experience
- Morgan Stanley analyst Adam Jonas recently shared his impressions of Tesla's FSD (Supervised) V12.3.6.
- Jonas praised the advanced driver-assist system's cautious and assertive behavior.
- He mentioned that FSD (Supervised) V12.4 is expected to bring substantial improvements.
- Jonas estimated that Tesla could have a fleet of over 50 million units by 2035, driving a collective 100 billion miles per year.
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