Musk's decision, as reported by The Information, to dismiss the head of the business, Rebecca Tinucci, and most or all of the staff that operated and maintained the system left officials at automakers and Tesla suppliers uncertain about the future.
The move comes after the firm reported a sharp fall in deliveries in the first three months of 2024.
Tesla shares surged 12% on Wednesday after CEO Elon Musk said the company plans to produce new affordable EV models by early 2025.
Elon Musk, the CEO of Tesla, has weighed in on the ongoing debate regarding the pricing of the company's Full Self-Driving feature. read more
Musk’s announcement was aimed at calming nervous investors on Wall Street who were still trying to digest the company’s most recent earnings report.
Tesla’s rocky year — plagued by price cuts, recalls and layoffs — continued Monday as shares of Elon Musk’s electric vehicle company dropped more than 3% ahead of Tuesday’s much-anticipated quarterly earnings. Tesla stock fell for the seventh straight day, closing at $142.05, its lowest price since closing at $133.42 on Jan. 20, 2023. Since
Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg.Earlier this month, Tesla said it delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the previous quarter. The delivery drop was the company's lowest quarterly...
Late Saturday, Tesla cut the price of its Full Self-Driving software to $8,000 in the U.S. from $12,000.
Earnings miss notwithstanding, momentum continued to build for Tesla's stock, which was rallying 11% in after hours trading. That's in large part because the EV maker said it plans on adding to its lineup and marketing a cheaper EV as early as next year, while investing in robotaxis as well. These
The electric carmaker’s Cybertruck was recalled last month after safety concerns emerged over the accelerator pedal. Kari Paul reportsLast month Tesla recalled its Cybertrucks after malfunctions involving the accelerator pedal were reported. It is the latest blow for the US electric carmaker, which has been hit by a series of embarrassing failures since the Cybertruck was delivered to customers late last year.Kari Paul, a technology reporter for Guardian US, talks to Michael Safi about Tesla’s...
Elon Musk wants there to be no doubt that Tesla needs to be "hardcore."Musk reaffirmed the company's need for meaningful layoffs and cost-cutting in an email late Monday night, according to a report from The Information.In the email, Musk announced the departure of two executives at the company: Rebecca Tinucci, senior director of the company's Supercharger group, and Daniel Ho, head of new products, according to the report.All staff reporting to the executives would also be cut, although a...
Elon Musk may be living on borrowed time as CEO of Tesla, as the Cybertruck stalls and the stock falls. Why price cuts won't help.