Tesla profits cut in half as demand falls
www.bbc.com
The EV maker brings forward launch plans for new models as profits drop by more than half.

Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.

Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.

The cuts in Texas represent 12% of Tesla’s total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.

  • Avid Amoeba@lemmy.caEnglish
    11·
    1 year ago

    “If somebody doesn’t believe Tesla is going to solve autonomy I think they should not be an investor,” he said.

    🥹

    • Billiam@lemmy.worldEnglish
      8·
      1 year ago

      Ah yes, the autonomous cars that are limited to only cameras and not any other form of sensor like radar/lidar will be so successful!