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.

  • Avid AmoebaEnglish
    28·
    8 months ago

    “If somebody doesn’t believe Tesla is going to solve autonomy I think they should not be an investor,” he said.

    🥹

    • Billiam@lemmy.worldEnglish
      15·
      8 months ago

      Ah yes, the autonomous cars that are limited to only cameras and not any other form of sensor like radar/lidar will be so successful!

      • wewbull@feddit.ukEnglish
        47·
        8 months ago

        It doesn’t matter what sensors you have. Autonomy is a pipe dream.

        • NotMyOldRedditName@lemmy.worldEnglish
          11·
          8 months ago

          Autonomy is not a pipe dream. It might not happen with Teslas sensors, and it might not happen for many many more years, but it will happen.

          There’s nothing unattainable about it with sufficient technology

          • wewbull@feddit.ukEnglish
            12·
            8 months ago

            with sufficient technology

            Well of course but that statement is writing a blank cheque. Let me cap my statement.

            “…within the next century”.

            • TexMexBazooka@lemm.eeEnglish
              2·
              8 months ago

              My pet theory is that self driving will start to really gain momentum when new construction in gentrified areas start designing roads with aids for self driving. It would require a degree of standardization to work across different manufacturers though.

    • ours@lemmy.worldEnglish
      4·
      8 months ago

      I’ll pass on this bet. It’s the Pareto law at its worst: impressive advancements in the first years and now progress halted by a million edge cases.