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Tesla News
Insider
7d
348
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Tesla, Google, and Microsoft won't stop laying people off. Here's why that could backfire.
- Job cuts at tech giants like Google, Microsoft, and Tesla can damage morale, decrease productivity, and deter potential new hires, labour market experts told Business Insider.
- Organisations making cuts take a hit, even when layoffs are necessary to trim costs. Employees remaining after the downsizing event also get bogged down by the stress of working during a round of layoffs. This can prompt some to start looking for better job opportunities.
- Wayne Cascio, a professor of management emeritus at the University of Colorado Denver who's researched corporate cutbacks, said that at organisations that shed workers, the share of employees who leave voluntarily typically goes up by about 50% in the following year. The departing ones could end up being the most marketable.
- Gen Z job seekers entering the workforce are prioritising employment security and may be deterred by a company that has gone through multiple rounds of layoffs.
- Even the biggest tech companies can suffer in recruiting good talent at the margins when it comes to hiring top talent who might entertain multiple offers. Candidates often opt for companies that have never had layoffs rather than ones that have gone through multiple rounds.
- Social media makes it easier for spurned workers to sound off on how their former employers handled a layoff. That is a risk that even top companies face when it comes to recruiting the next top job prospects.
- Organisations need to be transparent and communicate with employees during layoffs. Leaders must offer a rationale for the cutbacks, explaining the reasons for making reductions and how workers can re-engage with their jobs.
- Those left behind after layoffs are often forced to take on the work once done by their former colleagues, which can lead to burnout and even employee disengagement, prompting some to wonder what their purpose in the company is.
- Top members joining companies that go through frequent layoffs can become less engaged. Firms risk reputational damage with every restructuring. Organizations that frequently cut suspected excess staff can soon be seen by the public as being in a crisis.
- Big name tech companies think their brand is bulletproof and may have an easier time making routine cuts, but for most employers — the majority — that is not the case.
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Tech Story
7d
555
Image Credit: Tech Story
“US Set to Impose 100% Tariff on Electric Vehicle Imports from China”
- The Biden administration is set to announce fresh tariffs on Chinese trade, specifically targeting industries crucial to the electric vehicle (EV) sector.
- The upcoming announcement will retain existing tariffs while introducing additional taxes on sectors connected to EV production, such as batteries and solar cells.
- Imposing tariffs on EVs would mark one of the Biden administration's most significant moves in the ongoing trade conflict with China.
- These tariffs could reshape the automotive industry's supply chains and prompt manufacturers to explore alternative production bases outside China.
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Teslarati
7d
166
Image Credit: Teslarati
Tesla Megapacks near arrival at massive Melbourne renewables project
- Tesla Megapacks are set to arrive at the Melbourne Renewable Energy Hub (MREH) in Australia.
- The MREH battery project will have a total capacity of 600 MW and 1.6 GWh.
- The project is being developed by the State Electricity Commission (SEC) in partnership with Equis Energy.
- The SEC plans to invest $245 million in the MREH project, which is part of its larger aim to build 4.5 GW of renewable energy generation and storage projects.
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Teslarati
7d
0
Image Credit: Teslarati
Tesla launches limited-time 0.99% APR loan rate on U.S. Model Y orders
- Tesla has launched a limited-time 0.99% APR loan rate for Model Y orders in the U.S.
- The promotional financing is available on all three Model Y trim options.
- Buyers must finance the vehicle and place an order by May 31 to take advantage of this offer.
- Tesla has been offering various buying incentives and recently increased the price of all Model Y trims.
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Teslarati
7d
104
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Ford reducing battery orders as it loses over $100,000 per EV sold
- Ford has reduced its electric vehicle (EV) battery orders due to substantial losses on the technology.
- The company reported that its Model e EV unit was losing over $100,000 per EV sold.
- Ford is scaling back its EV program and focusing on gas and hybrid vehicles.
- The automaker has partnerships with battery suppliers including SK On, LG Energy Solution, and CATL.
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Teslarati
7d
62
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Tesla displays Model 3 Performance and Cybertruck in Macau
- Tesla has displayed the upgraded Model 3 Performance and the Cybertruck at a conference in Macau.
- The display includes a Model Y, a Cybertruck, and a Model 3 Performance.
- The Model 3 Performance is available in Macau for MOP $292,600 (~$50,313).
- Tesla has been preparing to launch Full Self-Driving (FSD) in China.
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Cartoq
7d
20
Tesla Cheaper To Maintain Than Even Toyota: Consumer Reports
- According to a recent report by Consumer Reports, the maintenance cost of a Tesla is lower than that of a Toyota.
- The report revealed that as cars aged, the maintenance cost increased, with Tesla having the lowest maintenance cost.
- The survey also highlighted that American car brands, including Tesla, are cheaper to maintain compared to Korean and German car brands.
- In terms of 10-year maintenance costs, maintaining a Tesla costs around 4,035 USD, while for Toyota it is 4,900 USD.
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Insider
1w
901
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Elon Musk really wants you to think Tesla still has a Supercharger plan
- Despite firing Tesla's Supercharger team, Elon Musk committed to spending over $500m to expand the Supercharger network.
- Tesla's Supercharger network is seen as vital for the company's ambitions in the EV market and could generate billions in revenue and profit.
- Musk's commitment to Superchargers aims to shake off doubts and concerns from investors and analysts.
- However, with the Supercharger team being fired, the logistics of implementing Musk's plans remain uncertain.
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Insider
1w
892
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Lucid CEO says Chinese automakers are still 'years and years behind' Elon Musk's Tesla
- Lucid CEO Peter Rawlinson believes Chinese automakers are still years behind Tesla in terms of core EV technology.
- Rawlinson acknowledges that Chinese EVs have improved in terms of fit and finish quality, but their engineering in areas such as drive train technology and batteries is still lacking.
- He warns Western car makers not to underestimate the ability of Chinese rivals to catch up quickly on core EV technology.
- Chinese automakers, such as BYD, have grown rapidly in recent years and pose a challenge to Tesla in the Chinese market.
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Insider
1w
835
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Tesla, Amazon, Microsoft, and other tech giants are spending millions in DC. Here's who is spending the most.
- Major tech companies, including Meta, Amazon, and Alphabet, have significantly increased their lobbying expenditures, surpassing $28 million in Q1 of 2024.
- This surge in spending reflects their efforts to influence policymakers as discussions on regulating AI technologies intensify. Meta, in particular, has allocated substantial funds towards lobbying, focusing on its new large language model, Llama, following setbacks in its Metaverse project.
- With Congress grappling with the complexities of AI regulation, tech giants are sparing no expense to shape the legislative landscape in their favor, underscoring the high stakes in this rapidly evolving sector.
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Evannex
1w
609
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Elon Musk Responds to Questions About the Future of Tesla’s Supercharger Network
- Tesla CEO Elon Musk reaffirms commitment to expanding the Supercharger network with an investment of over $500M.
- The recent layoffs in Tesla's charging team could be part of a strategic move to partner with other companies for a more extensive charging network.
- Despite concerns, the future of Tesla's Supercharger network appears to be on a path of expansion and innovation.
- Investment in the Supercharger network reflects Tesla's dedication to the future of electric vehicles.
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Guardian
1w
272
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Eight hundred protesters attempt to storm German Tesla factory
- About 800 protesters clashed with police while attempting to storm the Tesla plant in Grünheide, Germany.
- The protesters are opposing the plant's expansion, claiming it would harm the environment.
- In February, the town where the factory is located voted against the plans in a non-binding referendum.
- Tesla has faced backlash since opening the factory and announcing plans to expand into a nearby forest.
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Insider
1w
385
Image Credit: Insider
China is likely to hit back against US tariffs on electric vehicles, Wedbush's Dan Ives says
- China is likely to retaliate against the move by President Joe Biden's administration to impose new tariffs on electric vehicles from China, says Wedbush's analyst Dan Ives.
- The White House is set to increase tariffs on China EVs from about 25% to roughly 100% alongside an additional 2.5% duty on all imported cars into the US.
- Dan Ives believes that the added competition from cheap Chinese EVs hitting the US market would be tough for Tesla to deal with, as well as other legacy automakers.
- The tariffs would also protect the Detroit car companies along with Tesla, as they have made significant investments in the electric vehicle sector.
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Tech Story
1w
33
Elon Musk Pledges $500 Million investment for Tesla’s Supercharger Network Expansion
- Elon Musk announces a $500 million investment in Tesla's Supercharger network for infrastructure improvement and expansion.
- The investment aims to speed up the global distribution of Supercharger stations and cater to the increasing demand for Tesla electric cars.
- The funds will be used to upgrade existing stations, construct new ones, and reduce charging times with faster chargers.
- Tesla's Supercharger network expansion supports the goal of promoting electric vehicle adoption worldwide and creating a cleaner future.
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Tech Story
1w
129
Tesla’s Head of Product Resigns Amid Company Turmoil
- Rich Otto steps down from his role as the Head of Product at Tesla.
- He expressed concerns about Tesla's recent layoffs and their impact on the company's morale and long-term vision.
- During his tenure, Otto played a crucial role in significant events such as the launch of the Cybertruck and the rollout of the Model Y.
- Tesla's decision to trim its workforce raises concerns about the company's direction and stability.
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