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.

  • tacosanonymous@lemm.eeEnglish
    451·
    7 months ago

    Weren’t people estimating a *2027 end for Tesla bc they haven’t been working on new models? They put their efforts into the meme “truck” instead of the roadster. They have been slashing prices yet demand for EVs, especially theirs has been dropping. All the while, their main spokesman has been a toxic deterrent. Meanwhile, these douchelords think The ceo should get a $56B payout?

    • thejml@lemm.eeEnglish
      15·
      7 months ago

      The roadster was the only Tesla I liked, and it’s no coincidence that it was pre-Elon.

      • GripplerEnglish
        6·
        7 months ago

        The original roadster is just a lotus Elise with a terrible DIY EV mod thrown in to it.

    • Buffalox@lemmy.worldEnglish
      12·
      7 months ago

      Weren’t people estimating a 2007 end for Tesla bc they haven’t been working on new models? They put their efforts into the meme “truck”

      What? How is that supposed to make any kind of sense?

      • Buffalox@lemmy.worldEnglish
        61·
        7 months ago

        There were no efforts put into the “meme “truck”” in 2007, it wasn’t even speculated on being made yet. There were speculations back in 2007 that Tesla might not make it, because they had financial problems. But those speculations have zero relevance today.
        Your post is nonsensical.

          • frezik@midwest.socialEnglish
            9·
            7 months ago

            I’d guess 2027, since all the stuff mentioned are things that are culminating more recently.

            That said, the company’s best long term asset is probably the charging network. Especially since other manufacturers are adopting their plug. But that’s boring, and Musk isn’t a guy who cares about the boring stuff. He’s exactly the type to ignore the company’s best strategic direction just because he can’t make grandiose claims on Xhitter about it.