Tesla pulls the plug on supercharger team
Business Standard|May 02, 2024
May rehire a few to operate the existing network
NANDINI SINGH,
Tesla pulls the plug on supercharger team

Tesla eliminated almost its entire supercharger team, which had built a vast network of public charging stations that virtually every major automaker is in the process of tapping into in the US.

The decision to cut the nearly 500-person group, including its senior director, Rebecca Tinucci, was made by Chief Executive Officer Elon Musk in the last week. It comes in addition to the more than 10 per cent staff cut ordered in mid-April.

The move will slow the network's growth. There already are discussions about rehiring some of the people affected in order to operate the existing network and grow it at a much slower rate. In a post on X, Musk confirmed that Tesla will slow its expansion.

Tesla shares fell as much as 1.8 per cent in pre-trading on Wednesday.

Bu hikaye Business Standard dergisinin May 02, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

Bu hikaye Business Standard dergisinin May 02, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

BUSINESS STANDARD DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Al, Cloud, Super App: Adani Group To Bet Big On Tech
Business Standard

Al, Cloud, Super App: Adani Group To Bet Big On Tech

Planning to utilise sectoral data and train Al models

time-read
1 min  |
May 29, 2024
High Vegetable Prices Raise The 'Heat' In Election Season
Business Standard

High Vegetable Prices Raise The 'Heat' In Election Season

Food inflation has emerged as one of the main talking points of the ongoing Lok Sabha polls.

time-read
1 min  |
May 29, 2024
India, Vietnam To Gain From 'China+1': Nomura
Business Standard

India, Vietnam To Gain From 'China+1': Nomura

Bets big on RIL, BEL and Exide stocks

time-read
2 dak  |
May 29, 2024
Millennials, Gen Z Driving Demand For Luxury Car Rentals
Business Standard

Millennials, Gen Z Driving Demand For Luxury Car Rentals

Mumbai and Delhi witness fastest growth in demand this year at 35% and 40%, respectively

time-read
3 dak  |
May 29, 2024
Business Standard

Using private car as cab can lead to claim rejection

Insurance companies are trying to simplify the motor insurance claims process.

time-read
2 dak  |
May 29, 2024
Business Standard

Retail investors make bold bets in derivatives markets

Delhi, 28 May Retail investors seem to be making bold bets in derivatives markets a few days ahead of the Lok Sabha poll outcome.

time-read
2 dak  |
May 29, 2024
Business Standard

Q4 showing, valuations to keep Bosch under stress

Auto component major Bosch posted a subdued performance in the March quarter leading to the selloff.

time-read
2 dak  |
May 29, 2024
Business Standard

India Vix hits two-year high

Indian equity benchmarks ended with losses for the third consecutive day amid elevated volatility ahead of the Lok Sabha election results on June 4.

time-read
1 min  |
May 29, 2024
A quantum leap: MFs dive into quant theme
Business Standard

A quantum leap: MFs dive into quant theme

3 fund houses lead the charge with offerings in this space

time-read
2 dak  |
May 29, 2024
Metal firms yet to deliver on hope
Business Standard

Metal firms yet to deliver on hope

Though buoyant on bourses, their earnings, sales have lagged overall listed universe in past 2 yrs

time-read
3 dak  |
May 29, 2024