Barron’s senior writer Al Root discusses the performance of the Tesla market and the automaker’s strategy regarding electric vehicles.
After cutting its workforce by 10% earlier this month, Tesla has reportedly made further cuts, with two more top executives leaving.
information According to reports, Tesla CEO Elon Musk sent an email to executives Monday night saying that Rebecca Tinucci, senior director of EV charging, has announced that nearly the entire 500-person Supercharger team He also announced that he would be leaving the company on Tuesday.
Elon Musk attends the Viva Technology conference dedicated to innovation and startups held at the Porte de Versailles Exhibition Center in Paris, France on June 16, 2023. (Reuters/Gonzalo Fuentes/Reuters Photo)
Daniel Ho, Tesla’s director of vehicle programs and new product initiatives, is also absent, along with his entire staff, according to the report. It is unclear how many people worked in that department.
The company’s public policy team, led by former executive Rohan Patel, will also be disbanded, according to the report.
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“I hope these steps make it clear that we need to get serious about headcount and cost reduction,” Musk said in a leaked email, according to The Information. . “Some senior staff members are taking this seriously, but most people are still not taking it seriously.”
A Tesla emblem with raindrops is seen on a car in Krakow, Poland, on April 21, 2024. (Beata Saursel/NurPhoto via Getty Images/Getty Images)
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 194.05 | +25.76 | +15.31% |
Tesla did not respond to FOX Business’ request for comment.
The report comes two weeks after the electric car giant confirmed it would cut its workforce by more than 10%, cutting 15,000 jobs from its roughly 140,000 workforce.
Last week, thousands of Tesla employees in California and Texas were told they had lost their jobs. Along with the layoffs, the company also announced that Andrew Baglino, senior vice president of powertrain and energy engineering, is retiring after 18 years with the EV maker.
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In a separate report Tuesday, Electrek criticized Tesla is trying to get rid of Tinucci, the man who convinced the Supercharger team and rival manufacturers like Ford and General Motors to adopt Tesla’s NACS plug for EVs.
Kingsview Wealth Management CIO Scott Martin joins the “Big Money Show” to analyze the financial impact of Elon Musk’s latest promise of “affordable” Tesla cars.
Tesla is facing declining sales and increasing price competition, with quarterly sales falling for the first time since 2020, the company reported last week.
Mr. Musk made a surprise visit to Beijing on Sunday, pushing ahead with the rollout of Tesla’s advanced driver assistance package in China, the epicenter of the EV price war.
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The visit comes just over a week after he canceled plans to travel to India, where Tesla had long sought to launch operations, citing “very heavy obligations to Tesla.”
FOX Business’ Aislinn Murphy and Reuters contributed to this report.
