Tesla embarks on company wide hiring freeze as the EV maker struggles with mounting investigations, slumping demand, and a decrease in profits.
elon musk
Still More Layoffs at Tesla
Tesla launched yet another round of layoffs this week as CEO Elon Musk struggles to compensate for slowing sales and a 55% drop in first-quarter earnings. The latest cuts mean Tesla will see total U.S. employment drop as much as 20%, according to one report, with some departments, including its Supercharger operations, eliminated entirely.
Angered by Tesla Supercharger Cuts – Competitors Look to Rival Ionna Network
Tesla delivered a shock this week when word leaked out CEO Elon Musk was effectively closing down several departments, including the one overseeing its Supercharger network. Set up in 2012, when the automaker launched its original Model S sedan, the charging system was meant to assure buyers they’d have a place to plug in. But with the Supercharger network now open to most competing EV manufacturers, the news has triggered concerns across the auto industry — and is leading Tesla rivals to put emphasis on the competing new Ionna charging network.
Major New Layoffs Take Steam out of Tesla Stock Rebound
It was looking to be a very good week for Tesla, news of a weekend deal with the Chinese government sending the EV maker’s stock soaring. But that’s so yesterday in the 24-hour news cycle. And word that CEO Elon Musk has dismissed two key executives – with their entire staff set to follow – took the steam out of Tesla’s nascent stock rebound.
Hyundai Suspends Advertising on X
Hyundai Motor America suspended its advertising on the X, formerly Twitter, after another post espousing pro-Hitler, antisemitic views appeared attached to its ad on the social media outlet. Tesla CEO Elon Musk also helms X and has been under fire before after allowing similar content in the past. Find out more at Headlight.News.
Tesla Recalling Virtually All Cybertrucks Because Sticky Pedals Could Cause Runaway Acceleration
Tesla on Friday ordered the recall of nearly all of its Cybertrucks because their throttle pedals could stick when fully depressed, leading to potential runaway acceleration. The recall comes about three weeks after the automaker first received notice of the defect which, so far, has not been blamed for any crashes.
Musk Promises to Reveal Tesla Robotaxi in August
Tesla CEO Elon Musk said in a tweet that the automaker will reveal its new robotaxi on August 8, 2024. According to recent reports, Tesla has scrubbed plans to build an “affordable” EV to focus resources on developing the driverless ride-sharing vehicle – though Musk said such reports are false.
Tesla Stock Again in Freefall; How Low Will it Go?
Betting on the stock market isn’t for the fainthearted. But it takes an iron constitution to buy in on Tesla. True, those who’ve hung with the automaker since its early days have been well rewarded. But recent years have taken investors on a rollercoaster ride. And nowhere has it been more apparent than over the past few months. After nearing a 52-week late last year, Tesla shares have been in decline. And that’s now showing signs of turning into a full-on rout, even some long-term Tesla bulls getting worried.
Used Tesla Cybertruck Sells for $244,000
It’s anyone’s guess how well the Tesla Cybertruck will do long-term. Even CEO Elon Musk has sent mixed signals about the stainless steel-bodied electric pickup. But, with production ramping up a painfully slow rate, it appears that some of those who truly want the EV will pay a substantial premium to get one – even a used one, with a brief auction resulting in one customer shelling out more than double the sticker price.
Tesla Shipping New Roadster in 2025, Musk Claims
Elon Musk, Tesla’s CEO, revealed the company plans unveil its second-generation roadster by the end of this year with deliveries starting next year. The Roadster was the first-ever Tesla vehicle, and its replacement was slated to arrive four years ago. Details at Headlight.News.
Money, Drugs, Elon Musk and the Tesla Board of Directors
Elon Musk created a fair share of controversy several years ago when he appeared to smoke a joint during an appearance with podcaster Joe Rogan. A new report is kicking up even more dust, the Wall Street Journal alleging money and drugs have improperly tied the Tesla CEO to the same board of directors that previously approved a $55 billion pay package for Musk.
Court Rejects Musk’s “Unfathomable” $55.8 Billion Tesla Pay Package
Calling the deal “unfathomable,” a Delaware court has blocked the $565 billion pay plan awarded Tesla CEO Elon Musk in 2018. The move could spell trouble for Musk’s current demand for 25% control of the EV maker while also raising concerns about his floundering social media site, X, which relied on loans backed by Tesla stock. More from Headlight.News.