Tesla sinks after Elon Musk announces layoffs amid Model 3 production ramp (TSLA)
Friday, 18 January 2019 · *Tesla CEO Elon Musk sent a letter to employees Friday morning informing them the company was cutting 7% of its workforce. *
· *Musk said the layoffs were coming as the company begins production of its $35,000 Model 3.*
· *Tesla shares fell 6.55% following the announcement.*
· *Watch Tesla trade live.*
Tesla announced on Friday that it would be slashing thousands of jobs from its workforce in an attempt to bring down costs and increase production of the Model 3 sedan. The electric car manufacturer has struggled to achieve long-term profitability while balancing its expense sheet. Reuters reports...
Business Insider reports that Tesla is beginning an aggressive push into China's electronic vehicle market. Model 3s on the way and a factory under construction in Shanghai. China is the biggest market..
According to the New Zealand Herald Elon Musk's Tesla cars are about to get a "dog mode" to protect pets from overheating.
Musk said the technology would be rolled out to his fleet of Model 3 electric..
At least three ships roughly the length of two football fields are slated to arrive at ports in China by the end of this month, each carrying precious cargo from... New Zealand Herald Also reported by •S.China Morning Post