Elon Musk warns Tesla workers they'll be sleeping on the production line to build its new mass-market EV
Tom Carter Jan 25, 2024
Elon Musk warned Tesla workers to prepare for a challenging production ramp-up as he previewed plans to build a mass-market vehicle.
The Tesla CEO said on the company's Wednesday earnings call that building Tesla's next-generation EV, set to enter production in 2025, will require Tesla workers to live and sleep on the manufacturing line at the company's Texas factory.
"We really need the engineers to be living on the line. This is not sort of an off-the-shelf 'it-just-works' type of thing," Musk told investors.
"That will be a challenging production ramp," Musk said. "We'll be sleeping on the line, practically. Not practically, we will be."
https://www.businessinsider.com/elon-mu ... &r=US&IR=T
The Elon Musk Thread
Re: The Elon Musk Thread
After Dour Earnings Call, Tesla Share Plunge Wipes Out $80 Billion in Market Value
by Anna Coonan
January 26, 2024
Introduction:
by Anna Coonan
January 26, 2024
Introduction:
Read more here: https://www.cnn.com/2024/01/25/investi ... ndex.htmlLondon (CNN) — Shares in Tesla plunged 12% Thursday, wiping $80 billion off the company’s market value hours after it warned of slowing growth in electric car sales and an existential threat from Chinese rivals.
Tesla’s stock suffered its worst day in 21 months and closed at its lowest level since December 2022. Since the start of 2024, the company’s market capitalization has fallen by $210 billion.
In an earnings presentation Wednesday, the world’s most valuable automaker said its sales growth this year “may be notably lower” than last as it continued developing the “next-generation” vehicle, likely a lower-priced model.
While it reported a sizeable 38% increase in deliveries last year compared with 2022, Tesla had previously targeted a 50% annual growth rate averaged over several years.
Tesla’s (TSLA) financial results for the last quarter also disappointed, with adjusted earnings per share down 40% from a year earlier, and revenue, which rose 3% to top $25 billion, coming in below market forecasts.
Don't mourn, organize.
-Joe Hill
-Joe Hill
Re: The Elon Musk Thread
My Dad's latest blog:
Emperor Elon's ever-growing influence: from brain cells to Mars
31st January, 2024
Elon Musk doesn't often lose, so the Delaware court's cancellation yesterday of the 52-year-old's $55.8bn (£44bn) pay deal, awarded to him in 2018 by electric car company Tesla, must have triggered unusual emotions, especially as his total fortune is estimated at "only" just over $210bn. But has his rise and rise ended? Will he, like Icarus, finally fall to earth?
I doubt it.
https://www.foxmedia.co.uk/elonmusk.htm
Emperor Elon's ever-growing influence: from brain cells to Mars
31st January, 2024
Elon Musk doesn't often lose, so the Delaware court's cancellation yesterday of the 52-year-old's $55.8bn (£44bn) pay deal, awarded to him in 2018 by electric car company Tesla, must have triggered unusual emotions, especially as his total fortune is estimated at "only" just over $210bn. But has his rise and rise ended? Will he, like Icarus, finally fall to earth?
I doubt it.
https://www.foxmedia.co.uk/elonmusk.htm
-
- Posts: 1091
- Joined: Wed Oct 12, 2022 7:45 am
Re: The Elon Musk Thread
I thought that was Fox News in the UK
-
- Posts: 1091
- Joined: Wed Oct 12, 2022 7:45 am
Re: The Elon Musk Thread
More on that by Bloomberg:
https://www.bloomberg.com/news/articles ... me-to-this
https://archive.is/GjXDu
https://www.bloomberg.com/news/articles ... me-to-this
https://archive.is/GjXDu
Re: The Elon Musk Thread
Tesla lays off more than 10% of its workforce
2 hours ago
Tesla will lay off more than 10% of its global electric vehicle workforce.
In a memo, first reported by news website Electrek, billionaire owner Elon Musk told staff there was nothing he hated more, "but it must be done".
The world's largest auto-maker by market value had 140,473 employees globally as of December, according to its latest annual report.
Tesla did not immediately respond to the BBC's request for comment.
"We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10% globally," said the email from Mr Musk.
https://www.bbc.co.uk/news/technology-68818113
2 hours ago
Tesla will lay off more than 10% of its global electric vehicle workforce.
In a memo, first reported by news website Electrek, billionaire owner Elon Musk told staff there was nothing he hated more, "but it must be done".
The world's largest auto-maker by market value had 140,473 employees globally as of December, according to its latest annual report.
Tesla did not immediately respond to the BBC's request for comment.
"We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10% globally," said the email from Mr Musk.
https://www.bbc.co.uk/news/technology-68818113
- Time_Traveller
- Posts: 2385
- Joined: Sun May 16, 2021 4:49 pm
- Location: Olympia, Washington, U.S.A, January 2nd 2490 C.E.
Re: The Elon Musk Thread
wjfox wrote: ↑Mon Apr 15, 2024 2:28 pm Tesla lays off more than 10% of its workforce
2 hours ago
Tesla will lay off more than 10% of its global electric vehicle workforce.
In a memo, first reported by news website Electrek, billionaire owner Elon Musk told staff there was nothing he hated more, "but it must be done".
The world's largest auto-maker by market value had 140,473 employees globally as of December, according to its latest annual report.
Tesla did not immediately respond to the BBC's request for comment.
"We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10% globally," said the email from Mr Musk.
https://www.bbc.co.uk/news/technology-68818113
Tesla pushes for $56bn pay deal for Elon Musk
https://www.bbc.co.uk/news/articles/cqqndqndpq5o1 hour ago
Tesla is again seeking to award boss Elon Musk the biggest pay deal in corporate American history, worth $56bn (£44.9bn).
The electrical vehicle (EV) company is asking shareholders to vote on its chief executive's record-breaking pay that was set in 2018.
However, the deal was rejected by a US judge in January who described it as "an unfathomable sum".
It comes just days after Musk announced plans to cut more than 10% of its global workforce.
In a memo issued to staff Musk said there was nothing he hated more, "but it must be done".
Its a bit of a slap in the face to its workforce, if they do accept this deal.
"We all have our time machines, don't we. Those that take us back are memories...And those that carry us forward, are dreams."
-H.G Wells.
-H.G Wells.