Ceiling reached?
Turbulent times for Tesla? Tesla’s stock market value is nowhere near what it used to be, sales are lower than expected here and there and now it seems that a round of layoffs is also on the way.
Tesla will lay off some of its staff early next year. Electrek, which has close contacts with the company, reports this based on insiders. The manufacturer of electric cars has already announced a hiring freeze. The hiring freeze is striking because Tesla still needs thousands of employees for factories in Germany and the US, writes Electrek. It is still unclear how long the vacancy freeze will last. Tesla also held a round of layoffs in June. Then Elon Musk asked his top executives to lay off 10 percent of the workforce. One of the reasons he gave for this was that he had a bad feeling about the economy.
Tesla has to contend with declining demand for its electric cars, partly due to high inflation. But the company also suffers from increased competition as more and more traditional car manufacturers come up with electric models. Chinese manufacturers such as BYD, MG and Nio are trying to gain a foothold in Europe and the United States, and Chinese brands are also very popular in their own country. The Chinese demand for Teslas is suffering as a result, while it is such an important market.
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– Thanks for information from Autoweek.nl