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Tesla to Cut 7% of its Workforce to Help Lower the Costs of Model 3 Production

Tesla to Cut 7% of its Workforce to Help Lower the Costs of Model 3 Production

Electric automaker Tesla, fresh off its best sales year in the company’s history, announced today it will lay off about 7 percent of its full-time workforce. Tesla CEO Elon Musk said the move is necessary to help lower the costs associated with production of the Model 3

Eric Walz2019-01-18 11:59 PT

Tesla Announces Price Cuts & Record Output While Stock Slips on Expected Falling Demand

Tesla Announces Price Cuts & Record Output While Stock Slips on Expected Falling Demand

Electric automaker Tesla said it is cutting prices of the Model 3, Model S and Model X SUV by $2,000. Tesla’s surprise announcement weighed on the stock, pushing it down nearly 7 percent, as investors see it as a sign that Tesla may experience softer demand for the Model 3 going forward as the $7,500 federal EV tax credit is halved.

FutureCar Staff 2019-01-02 18:32 PT

Tesla Facing Sales Slowdown as the $7,500 Federal EV Tax Credit Ends Jan 1

Tesla Facing Sales Slowdown as the $7,500 Federal EV Tax Credit Ends Jan 1

Now that Tesla has reached sales of 200,000 electric vehicles, the $7,500 federal EV tax credit offered to buyers is being cut in half to $3,750 beginning Jan 1.

Eric Walz2018-12-31 10:05 PT

Tesla Registers Financial Leasing Unit for Construction of Shanghai Gigafactory

Tesla Registers Financial Leasing Unit for Construction of Shanghai Gigafactory

Electric automaker Tesla is putting the pieces in place for its first factory in China. Reuters reported that the U.S. automaker has registered a financial leasing company in Shanghai’s free trade zone.

FutureCar Staff 2018-12-27 10:29 PT

General Motors Pushes to Retain the $7,500 EV Tax Credit

General Motors Pushes to Retain the $7,500 EV Tax Credit

General Motors is fighting to retain a valuable $7,500 electric vehicle tax credit as the company deals with the political fallout triggered by its recently announced plan to shutter several U.S. assembly plants and cut thousands of jobs. The EV tax credit is designed to promote the adoption of electric vehicles.

Eric Walz2018-12-10 17:27 PT

Tesla Aims to Begin Electric Vehicle Production in Shanghai By Next Year

Tesla Aims to Begin Electric Vehicle Production in Shanghai By Next Year

Tesla is on a rapid pace to get its Shanghai Gigafactory up and running. The electric automaker has opened a tender process to build its Shanghai Gigafactory and at least one contractor has started buying materials.

FutureCar Staff 2018-12-06 16:08 PT

Tesla Begins Taking Model 3 Reservations in China

Tesla Begins Taking Model 3 Reservations in China

Electric automaker Tesla has opened reservations in China to purchase the Tesla Model 3. Beginning today, customers in China can reserve their Model 3 with a deposit of 8,000 yuan ($1,153.60), according to Tesla’s China website

Eric Walz2018-11-16 11:32 PT

Tesla Releases its Q3 Earnings Report, CEO Elon Musk Calls it 'Truly Historic'

Tesla Releases its Q3 Earnings Report, CEO Elon Musk Calls it 'Truly Historic'

Tesla announced its Q3 earning today and CEO Elon Musk called the company’s Q3 performance “truly historic”. The company posted a GAAP of $312 million on a record $6.8 billion in revenue, boosted by sales of the Model 3.

FutureCar Staff 2018-10-24 16:57 PT

Tesla Offering a New Mid-Range Battery Option for the Model 3

Tesla Offering a New Mid-Range Battery Option for the Model 3

Tesla is offering a new a mid-range version of the Model 3, with an estimated range of 260 miles. The new mid-range Model 3 is priced at $45,000 before incentives.

FutureCar Staff 2018-10-18 16:40 PT

Tesla CEO Elon Musk Officially Settles with the SEC for Misleading the Public

Tesla CEO Elon Musk Officially Settles with the SEC for Misleading the Public

A U.S. judge approved Tesla’s and Chief Executive Elon Musk’s $40 million settlement with the U.S. Securities and Exchange Commission, resolving government claims that Musk misled the public with a number of tweets about plans to take the automaker private.

Eric Walz2018-10-16 13:11 PT

 Tesla to Hand Deliver Model 3's to Increase Sales Before the End of Q3

Tesla to Hand Deliver Model 3's to Increase Sales Before the End of Q3

Electric carmaker Tesla has launched a service called ‘Tesla Direct’, which is a door-to-door direct delivery service in California. The service will help Model 3 buyers get their cars faster, rather than having to wait to pick it up at a local Tesla delivery center.

Eric Walz2018-09-24 12:12 PT

Another Top Executive Departs Tesla, Joining Dozens of Others Who Left the Automaker in 2018

Another Top Executive Departs Tesla, Joining Dozens of Others Who Left the Automaker in 2018

​Another key executive at electric automaker Tesla is stepping down, according to people with familiar with the matter. It’s another setback for Tesla’s CEO Elon Musk since tweeting on August 7 about taking the company private.

FutureCar Staff 2018-09-21 18:31 PT

Tesla Shares Sink as CEO Elon Musk Gives Revealing New York Times Interview

Tesla Shares Sink as CEO Elon Musk Gives Revealing New York Times Interview

​In an emotional interview with the New York Times, Tesla CEO Elon Musk opened up about his difficult and stressful year he’s had trying to ramp up production of the Model 3, while simultaneously trying to control the company’s massive cash bleed. On Friday, the electric car maker’s stock fell to its lowest levels in five months.

Jeremy Carlton2018-08-17 15:58 PT

Tesla Well Within Reach of Building 8,000 Model 3’s Per Week

Tesla Well Within Reach of Building 8,000 Model 3’s Per Week

​Although Tesla is burning through cash at an alarming rate, it appears that the company has finally overcome what is called ‘production bottlenecks’ that were hampering production of its first mass-market electric car, the Model 3.

Eric Walz2018-08-16 11:23 PT

Tesla CEO Tweets About Taking Tesla Private, Elon Musk’s Cryptic Message to Short Sellers?

Tesla CEO Tweets About Taking Tesla Private, Elon Musk’s Cryptic Message to Short Sellers?

Tesla CEO Elon Musk surprised the business world today with a tweet suggesting he might take his electric car company private at $420 a share. He wrote that funding for the move is already secured.

Eric Walz2018-08-07 11:44 PT

Tesla CEO Elon Musk says Company is on Track to Build 6,000 Model 3’s Per Week

Tesla CEO Elon Musk says Company is on Track to Build 6,000 Model 3’s Per Week

Electric automaker Tesla released in its Q2 earnings today, and depending on who you ask, the numbers are not so bad. The company reported losses of $2.45 per share, slightly better than the $2.92 per share analysts predicted. Total revenue rose to $4 billion from $2.79 billion, beating the $3.92 billion in revenue forecasted by Reuters.

Derrick Smith2018-08-01 18:12 PT

Michigan-Based Consulting Firm Claims Tesla Model 3 is Most Profitable EV

Michigan-Based Consulting Firm Claims Tesla Model 3 is Most Profitable EV

After lambasting the Tesla Model 3 for its poor build quality, president of Michigan-based Munro & Associates, Sandy Munro, backpedaled and praised the electric sedan.

Vineeth Joel Patel2018-07-22 09:15 PT

Electric Automaker Tesla Hits Milestone, Builds 5,000 Model 3’s Last Week

Electric Automaker Tesla Hits Milestone, Builds 5,000 Model 3’s Last Week

Tesla CEO Elon Musk has been promising to eventually built 5000 of its mass market Model 3 electric cars each week since since the company began producing the cars last summer. At 5:00am Sunday morning, Tesla finally reached that goal.

Eric Walz2018-07-02 10:46 PT

Tesla Asking for an Additional $2,500 for Model 3 Orders

Tesla Asking for an Additional $2,500 for Model 3 Orders

According to a report by CNBC, Tesla has sent out emails to Model 3 reservation holders, asking them for an additional $2,500. While this seems kind of odd, the electric automaker did something similar with the Model S and Model X.

Vineeth Joel Patel2018-06-30 08:30 PT

Elon Musk Claims Tesla Employee Sabotaged Model 3 Assembly Line

Elon Musk Claims Tesla Employee Sabotaged Model 3 Assembly Line

Tesla has been under pressure to ramp up production of the Model 3 electric sedan since the car began rolling off the assembly line last July. It now appears that dissent within the company has led to an employee, or employees, sabotaging Tesla’s assembly line.

Derrick Smith2018-06-18 18:24 PT

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