Source: Gelonghui
pick up and drop
On the first day after returning to China, Musk raised the “guillotine” of layoffs.
Less than two weeks after 10% global layoffs,$Tesla (TSLA.US)$A new wave of layoffs has arrived.
On Tuesday local time, Musk fired two Tesla executives and laid off the entire supercharging station team of about 500 people because he was frustrated by the decline in sales and the pace of layoffs.
Immediately, hearing about Tesla, which had been rising for two days, collapsed. US stocks closed on Tuesday, and Tesla's stock price fell more than 5% to $183.28. Tesla's cumulative decline this year has exceeded 26%.
Musk's “steadfastness” in layoffs
This layoff was carried out on the first day after Musk returned to the US from Beijing.
In a recent email to executives, Musk said he wanted Tesla to be “absolutely firm” on the layoffs.
According to reports, executives fired this time include Rebecca Tinucci (Rebecca Tinucci), senior director of electric vehicle charging, and Daniel Ho (Daniel Ho), director of automotive projects.
During his six years at Tesla, Tinucci was mainly responsible for the promotion of Tesla's supercharging station network, including efforts to get other companies to adopt the North American Charging Standard (NACS) developed by Tesla.
Daniel Ho worked at Tesla for ten years as director of automotive projects and new product planning, as well as a project manager for Model S, 3, and Y cars.
In addition, the 500-person supercharging station team led by Tinucci will also be laid off. Most of the members of the public policy team led by former executive Rohan Patel (Rohan Patel) will also be fired.
According to reports, these layoffs were carried out on the basis of a recent 10% layoff, and Musk's email left room for more layoffs.
Previously, Tesla planned to lay off 10% of its global workforce due to increased competition and declining sales.
However, at the time, Musk was not very satisfied with this layoff ratio. He hoped to cut the number of Tesla employees by 20%. The ratio should be comparable to Tesla's sales drop in the first quarter of 2024.
“There's nothing I hate more than a layoff, but I have to do it again. This will enable us to streamline, innovate, and aspire to the next cycle of growth.”
“Everyone was so confused”
It's just this surprise layoff that seems to have caught everyone off guard.
William Jameson, head of Tesla's strategic charging program, posted on X:
“Confirmed — @特斯拉 @埃隆 Musk has disbanded our entire overcharging organization. I don't know what this means for charging networks, NACS, and all the exciting work we do across the industry. What a wild ride this has been.
But at the same time, it also provides a unique opportunity for the industry to take advantage of emerging talent and expertise in the field. If Tesla gave up its charging crown, who would stand up?”
Notably, Tesla previously established partnerships with automakers including GM, Ford, and others, and agreed to allow non-Tesla electric vehicle drivers to charge their devices.
However, the current layoffs seem to be limiting Tesla's US supercharging network development plans. This is very puzzling.
Andres Pinter (Andres Pinter), co-CEO of supercharging station network contractor Bullet EV, said:
“My team woke up this morning to find that they had been kicked hard.”
He believes that other charging networks will take years to catch up, but Tesla has abandoned recent plans to actively expand in the US, leaving room for other participants.
“Tesla has received funding under the federal government's NEVI plan. It is impossible for Musk to give up valid free money. He's likely to restructure the electric vehicle charging team in a bigger, worse, and more Musk way.”
In response, GM and Ford said in a statement that they will not change their plans to equip their electric vehicles with connectors that will allow drivers of Chevrolet, Cadillac, or Ford brand electric vehicles to charge at Tesla charging stations.
Musk also responded on X saying:
“Tesla is still planning to develop a network of supercharging stations, but the pace of new locations is slower, and more attention is being paid to 100% uptime and expansion of existing locations.”
Also, because he leaked information about Tesla's layoffs, Musk also dismissed his iron analyst. Musk said, “Don't post posts that reveal confidential information and expect my attention.”
Over the weekend, Musk flashed to Beijing after canceling his trip to India to push Tesla FSD to land in China.
However, after only one day, Musk's speedy visit to China was announced to be over, and Tesla soared for two days as a result.
Bank of America believes that Musk China cleared the barriers for Tesla to launch FSD software in China, which may increase the company's profits over the next ten years.
The bank predicts that Tesla FSD's profit in China may exceed 2 billion US dollars in 2030.
edit/lambor