🚀 TSLA layoffs are here

Hey S3XY 🧤, Tesla to layoff more than 10% of its employees amid cost cutting and stagnant demand for it’s existing lineup. As pointed out last week, Giga Shanghai is already not running at full capacity due to demand ‘problem‘ and had been adjusting work shifts of factory workers throughout last quarter, it has now boiled down to permanently reduction of it’s headcount.
Expect next leg of rehires only after Tesla sets up line for next generation of vehicles and/or new Giga location; but then there is always case of ‘Optimus‘ replacing human labours.
And some other highlights from today’s letter 📨:

• Kia’s dealer incentive.

• Robotaxi math.

• Model Y leading EV sales charts.

• Tesla’s new semiconductor supplier.

Let’s take a dive..👇🏻

$TSLA CHART

TESLA BULLETS

Ouch: According to leaked memo, Tesla to layoff more than 10% of global headcount amid cost cutting and efforts to increase efficiency.

Soon: Some nerdy graph math behind prediction as to when 2 Billion FSD miles milestone would be hit.

Short: One minute CyberTruck review.

Partnership: Tata Electronics seals semiconductor deal with Tesla.

Robotaxi pilot: If nerd in you wishes to dive deep into nitty gritties of Tesla Robotaxi, don’t miss this.

Cool: The Anaheim (California) Police Department is leading Orange County with a pilot program to test the Tesla Model Y as a patrol vehicle.

Adjustments: Tesla pauses CyberTruck deliveries for few days to fix it’s accelerator pedal.

Leader: Tesla Model Y lead with 35.4% of all electric vehicle sales in the U.S. in the first quarter.

WHISPERS

$99 FSD.

Dive into the world of CyberTruck’s battery pack with Sandy Munro.

From someone who understands the world of robotics deeply.

Bonkers.

Preserving manuals just for fun!

INDUSTRY FILES

Subsidy: BYD received whooping $2.4 billion in direct Chinese government subsidies over the years. See details here.

Unveil: Nio revealed official images of the new 2024 ET7 sedan. It will start pre-sales on April 16 with a revised interior.

EV push: Kia is paying its dealers up to $1,500 in flat payments for each EV sold in April.

EVs vs ICE: Many EVs have a lower five-year cost of ownership than comparable gasoline models, according an annual roundup from Vincentric.

Charging infra: Illinois Environmental Protection Agency Director John J. Kim has announced plans to spend more than $25 million on new EV charging infrastructure under the Driving a Cleaner Illinois program.

Extending family: BYD has begun warming up for the Qin L, which will be the latest addition to its hot-selling Qin family.

Handshake: Jaguar Land Rover will become the first luxury automaker to adopt Chery's platform, with the partnership close to being finalized.

THAT’S THOUGHTFUL

It’s all about the ‘family’.
👇🏻

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