A few weeks after reporting its first year-over-year decline in vehicle deliveries since 2020, Tesla is now planning to lay off over ten percent of its global workforce, according to an internal company-wide email seen by Electrek.
Today’s development is the latest in a string of bad news for the EV maker.
The company reported a miss in delivery estimates ahead of its quarterly earnings on April 23rd, alongside a predicted slowdown in sales growth back in January, which it attributed to manufacturing issues surrounding its next generation of vehicles.
Tesla has also reportedly abandoned its plans to produce an affordable Model 2 that would cost around $25,000 as it shifts to instead focus on a new robotaxi.
This comes as the company faces mounting pressure from the one-two punch of waning demand and more affordable EVs made by Chinese manufacturers.
Last year, Tesla lost the title of world’s top maker of electric vehicles to China’s BYD which produced 3.02 million EVs, compared to Tesla’s 1.81 million.
The original article contains 231 words, the summary contains 167 words. Saved 28%. I’m a bot and I’m open source!
This is the best summary I could come up with:
A few weeks after reporting its first year-over-year decline in vehicle deliveries since 2020, Tesla is now planning to lay off over ten percent of its global workforce, according to an internal company-wide email seen by Electrek.
Today’s development is the latest in a string of bad news for the EV maker.
The company reported a miss in delivery estimates ahead of its quarterly earnings on April 23rd, alongside a predicted slowdown in sales growth back in January, which it attributed to manufacturing issues surrounding its next generation of vehicles.
Tesla has also reportedly abandoned its plans to produce an affordable Model 2 that would cost around $25,000 as it shifts to instead focus on a new robotaxi.
This comes as the company faces mounting pressure from the one-two punch of waning demand and more affordable EVs made by Chinese manufacturers.
Last year, Tesla lost the title of world’s top maker of electric vehicles to China’s BYD which produced 3.02 million EVs, compared to Tesla’s 1.81 million.
The original article contains 231 words, the summary contains 167 words. Saved 28%. I’m a bot and I’m open source!