🚀 Big departures at Tesla

Hey S3XY 🧤, Yesterday was one of the harder days in Tesla’s history as it had to let go more than 14000 of its employees.
Along with those employees, Tesla saw two big name departures i.e. Drew Baglino and Rohan Patel. Both worked in leadership positions at Tesla and is understood to have worked inside Elon’s top tier circle.
And guess what, we would never know if they had been fired or left the job at their will. Nonetheless, both had huge experience for their positions and is a huge loss at Tesla’s leadership team.
Though Tesla weathered such job cuts and big departures previously as well and looks like, Elon’s leadership is such strong that it didn’t affect Tesla materially historically in any way, in fact Tesla came out stronger and excelled in particularly those ‘big departure‘ areas by leaps and bound.
And some other highlights from today’s letter 📨:

• Auto wipers fixed.

• Elon reorganising Tesla troops.

• Honda unveils new brand.

• No more free FSD transfers.

Let’s take a dive..👇🏻

$TSLA CHART

TESLA BULLETS

Departure 1: Drew Baglino, SVP Powertrain & Energy departs from Tesla after 18 long years.

Departure 2: Rohan Patel, VP Public policy & Business Development and unofficial ‘spokesman’ also left after serving 8 long years at Tesla.

China numbers: Tesla China reported 6K insurance registrations for the week April 8 - 14. That’s -59.5% YoY.

Overview: See the chart to get an idea about Tesla’s hires and fires over the years.

Suspension tech: New Model 3 Ludicrous gets ‘Active suspension’. 

Reminder: Adjust your calendars. Just one more week.
Emotions → Overflowing; Drama → Offcharts; Entertainment → Guaranteed.

Finally: Looks like auto wipers are actually ‘auto’ now.

No more freebies: Tesla ends free FSD transfer program.

New market: Tesla is looking at potential showroom locations in New Delhi and Mumbai ahead of plans to begin sales in India later this year.

WHISPERS

For few hours Elon had this profile picture. Keep guessing.

Elon on layoffs.

Police Petrol Patrol cars.

Elon likes the idea of being ‘war time CEO’.

Now that ‘Robotaxi’ is main thing.

INDUSTRY FILES

Results: CATL reported revenue of $11 billion in the first quarter, a new low since the second quarter of 2022, according to its unaudited financial report released yesterday.

Preparation: BYD’s premium brand Denza is making a filing for the Z9 GT electric sedan, after giving the model its first preview earlier this month.

EV money: The U.S. paid $580 million in Point-Of-Sale EV tax credits so far this year.

Clean energy: In a major clean energy benchmark, wind, solar, and hydro exceeded 100% of demand on California’s main grid for 30 of the past 38 days.

Approval: Tesla supplier Piedmont Lithium has been granted approval to set up mining operations in North Carolina.

Software update: Rivian adds a new reliability scoring feature R1S and R1T to show the most reliable fast chargers on your trip.

Low cost: The Kia EV3 will be released this year to grow volume and meet the demand for reasonably priced EVs.

All in: Honda has unveiled a new EV brand in China called Ye, its third in the country to target the EV market after e:N and Lingxi.

THAT’S THOUGHTFUL

How Andrew went on to become one of the richest person of all time.
👇🏻

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