Jobs, Musk-Votum, Cybertruck > teslamag.de

Tesla has put observers on tenterhooks over the past week. There was important news almost every day, but most of it was negative or a mix at best. It started with the announcement that, according to CEO Elon Musk, Tesla wants to lay off more than 10 percent of its workforce. Then it became known that two key employees were leaving of their own accord, and a day later that Tesla’s board wanted to vote again on a billion-dollar bonus for Musk. On Friday, US transportation authorities issued a recall for the Cybertruck, and on Saturday US prices for many Tesla models dropped – as did interest rates for Model Y loans in Germany a short time ago.

Small factory layoffs at Tesla

By the end of 2023, Tesla said it had 140,000 employees worldwide, and at least 14,000 of them are now expected to lose their jobs. According to reports, CEO Musk wrote more than 10 percent in an internal email, which he confirmed directly with X’s statement, that Tesla had to be upgraded approximately every 5 years for sustainable growth. Who exactly it would affect initially remained unclear. The company denied reports that 3,000 workers at the German Gigafactory alone had to leave and instead spoke of only 300 people, who were also part-time workers.

From China it was said that Tesla had not laid off any workers at the local factory – out of nearly 20,000 only a few dozen were laid off. reported the South China Morning Post. The cuts are said to be more visible in sales. According to SCMP, Tesla’s presence in China may be closed. In any case, there are currently only a few locations around the world: On Friday there were at least a few dozen in Germany, five in the entire United States and none in China.

Musk on X active in Tesla matters

CEO Musk wrote midweek that Tesla’s entire sales and delivery system had been simplified because it had become cumbersome and inefficient. Apparently the first result of this was the announcement that the current bonus program for new Tesla customers and repeat buyers will end at the end of April. The points earned so far remain valid, the Tesla boss explained when asked by X – and announced that the new program should start in a few months.

What was positive was that Musk spent more time on Tesla on his social network this week than he has been used to in months. Recently, Rohan Patel had been frequently featured in Tesla’s executive management, which previously had only four members, also resigned, as was known around the same time: Drew Baglino, with the company since 2006 and chief technology officer since October 2019 as the successor of co-founder JB. Straubel.

pic.twitter.com/Mkk4p5NAfM

– Elon Musk (@elonmusk) April 20, 2024

For example, the CEO himself said on Saturday that shortly before, Tesla had reduced the US prices of this electric car as well as the Model S and Model X by $2,000 each. There was previously no change in prices for the chargers in Europe, but in Germany Tesla reintroduced zero-interest loans for the Model Y (see image above) on Tuesday. Offer applies to Long Range and Performance versions; Your lease is financed with 0.99 percent interest. For the base version and the new Model Y with rear-wheel drive and a large battery, the special loan interest rate is 1.99 percent, and the special lease interest is 2.99 percent.

The fact that Musk was very active in Tesla matters this week may also have something to do with the fact that he wants many billions of dollars back. In 2018, after the approval of the shareholders, the board decided on a multi-step bonus plan for him, the value of which is highly dependent on the price of Tesla shares. By the end of 2022, Musk had met all of the hardship requirements and earned nearly $50 billion in options at that time. But this January, a Delaware court declared the deal invalid because shareholders were not properly informed of the negotiations. As a result, Musk’s bonus was completely canceled, but the board wants to re-authorize it at the next general meeting.

Vote on Musk and Texas Bonus

This emerges from what are said to be preliminary documents that the company submitted on Wednesday like a stock market announcement and above new website published. Accordingly, at the annual general meeting, which is now scheduled for June 13, two points will be voted on, among other things: the bonus plan for Musk again and the transfer of Tesla’s company registration (incorporation) from Delaware to Texas. Musk announced preparations for this immediately after the ruling against his bonus. According to the document, this move has since been scrutinized by many jurists and was generally considered reasonable.

The board supports both proposals, according to the document and website. So the CEO, who has been working for Tesla for free since 2018, if you don’t consider the billion dollar options, can return it. Including these, he currently still owns a healthy 20 percent stake — but would like 25 percent to feel comfortable making Tesla a leading provider of AI and robotics, as he explained in January. It’s not yet known how the board plans to address these greater demands, but Musk is unlikely to give up.

Not betting on the company, but going to the wall freely is a blind move.

Everything else is like a variation on a horse carriage.

– Elon Musk (@elonmusk) April 16, 2024

Before the general meeting, business figures for the first quarter of 2024 will be published this Tuesday (April 13), followed by a conference call. Investors are expecting a full statement from Musk about what Tesla has planned for this year and beyond in its current electric car business. The previous week he described reports that Tesla’s second model, which was considered important, had been postponed as false. However, with the announcement of the robot idea this August, he seemed to confirm the news. Also this week: Pursuing “freedom” with full force is not a bet, but a very clear choice and everything else is just different on horse-drawn carriages, he wrote.

Tesla remembers with the first Cybertruck number

At the same time, the Cybertruck, which will be released for the first time at the end of 2023, has given Tesla one of the rare memories of the brand that requires a technical change. In Cybertrucks produced since last November, the cover on the electric pedal can be removed, allowing it to be stuck in the down position, the US transportation authority NHTSA announced on Friday. This problem cannot be solved by a software update, as is the case with most Tesla recalls. Instead, according to X reports, the cover is secured later with an additional screw, and according to NHTSA, Tesla has been putting the new pedal into production since mid-April.

Affected Cybertruck owners will have their pedals repaired or replaced, it says Note the notice. The effort required for this can be limited, and according to Tesla, there were no accidents in this context until mid-April – the company says that the Cybertruck will stop even if the electric pedal is pressed (or connected. ). the brake is applied at the same time. The recall reveals for the first time how many photos Tesla has released so far: 3,878 from mid-November to early April. The annual capacity of 125,000 Cybertrucks mentioned in the financial report from the end of 2023 seems to be used so far at less than 10 percent.