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Electric Car Maker Tesla to Lay off 7% Staff Amid China Dreams

Musk-led private spaceflight company SpaceX also announced recently that it would lay off 10 per cent of its workforce to fund other projects

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Tesla, board
Tesla to lay-off 7% full-time staff amid China dreams. Pixabay

Electric car maker Tesla on Friday announced it is laying off seven per cent of its full-time staffers in an attempt to reduce costs and increase profits.

The news comes on the heels of Tesla CEO Elon Musk laying the foundation of a Tesla Gigafactory in Shanghai earlier this month — the first outside the US.

All Tesla employees were informed about the development in an email.

“Starting around May, we will need to deliver at least the mid-range Model 3 variant in all markets, as we need to reach more customers who can afford our vehicles. Moreover, we need to continue making progress towards lower priced variants of Model 3.

“Attempting to build affordable clean energy products at scale necessarily requires extreme effort and relentless creativity, but succeeding in our mission is essential to ensure that the future is good, so we must do everything we can to advance the cause,” Musk wrote in a blog post.

Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

Musk said that the company unfortunately has no choice “but to reduce full-time employee headcount by approximately 7 per cent (we grew by 30 per cent last year, which is more than we can support) and retain only the most critical temps and contractors”.

The China factory that is expected to produce 500,000 electric vehicles per year and double the production capacity of Tesla, will begin with the production of Model 3.

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Musk-led private spaceflight company SpaceX also announced recently that it would lay off 10 per cent of its workforce to fund other projects.

SpaceX, which has a contract with NASA to deliver cargo to the International Space Station (ISS), is now planning to start flying astronauts to the ISS for NASA sometime this year.
(IANS)

Next Story

EV Maker Tesla Unveils Its First Model 3 Made-In-China

Tesla unveils made-in-China Model 3 with media test drives

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Tesla
Electric Vehicle (EV) maker Tesla has unveiled its first Model 3 made-in-China at Gigafactory 3 in Shanghai. Wikimedia Commons

Electric Vehicle (EV) maker Tesla has unveiled its first Model 3 made-in-China at Gigafactory 3 in Shanghai and started to give media test drives of the vehicle.

Tesla has been expected to focus on Model 3 production at its Shanghai automotive factory, where it mulls producing as many as 3,000 vehicles per week next year, Teslarati reported recently.

The Shanghai Gigafactory is Tesla’s first assembly plant outside of the US and the first wholly-owned foreign auto factory in China.

Tesla
Tesla has been expected to focus on Model 3 production at its Shanghai automotive factory. Pixabay

Last month, the automaker confirmed that it has produced full vehicles at Gigafactory Shanghai as part of its trial production.

“We are already producing full vehicles on a trial basis, from body, to paint and to general assembly, at Gigafactory Shanghai. We have cleared initial milestones toward our manufacturing license and are working toward finalizing the license and meeting other governmental requirements before we begin ramping production and delivery of vehicles from Shanghai,” the company said.

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Additionally, the company’s CEO Elon Musk has recently announced that he will unveil Tesla electric pickup truck dubbed as ‘Cybertruck’ on November 21 at an event in Los Angeles. (IANS)