Scelte strategiche Tesla

[4200blu]

 

SAN FRANCISCO -- Tesla CEO Elon Musk has a "super bad feeling" about the economy and wants to cut about 10 percent of jobs worldwide at the automaker, he said in an email to executives seen by Reuters.

The message, sent on Thursday and titled "pause all hiring worldwide," came two days after the billionaire told staff to return to the workplace or leave. It adds to a growing chorus of warnings from business leaders about the risks of recession.

Tesla employed almost 100,000 people at the company and its subsidiaries at the end of 2021, according to its annual SEC filing.

Tesla was not immediately available for comment.

Tesla shares fell nearly 3 percent in U.S. pre-market trade on Friday and its Frankfurt-listed stock was down 3.6 percent after the Reuters report.

High-profile message

Musk has warned in recent weeks about the risk of a recession, but his email ordering a hiring freeze and staff cuts was the most direct and high-profile message of its kind from the head of an automaker.

So far, demand for Tesla cars and other electric vehicles has remained strong and many of the traditional indicators of a downturn, including increasing dealer inventories and incentives in the U.S., have not materialized.

But Tesla has struggled to restart production at its Shanghai factory after COVID-19 lockdowns forced costly outages at the plant.

"Musk's bad feeling is shared by many people," said Carsten Brzeski, global head of macroeconomic research at Dutch bank ING. "But we are not talking about global recession. We expect a cooling of the global economy towards the end of the year. The U.S. will cool off, while China and Europe are not going to rebound."

Musk's gloomy outlook echoes recent comments from executives including JPMorgan Chase & Co CEO Jamie Dimon and Goldman Sachs President John Waldron.

A "hurricane is right out there down the road coming our way," Dimon said this week.

Inflation in the U.S. is hovering at 40-year highs and has caused a jump in the cost of living for Americans, while the Federal Reserve faces the difficult task of dampening demand enough to curb inflation while not causing a recession.

Musk, the world's richest man according to Forbes, did not elaborate on the reasons for his "super bad feeling" about the economic outlook in the brief email seen by Reuters.

China problems

A number of analysts have cut price targets for Tesla recently, forecasting slower deliveries due to Chinese lockdowns and lost output at its Shanghai plant, a hub supplying electric vehicles to China and for export.

China accounted for just over a third of Tesla's global deliveries in 2021, according to company disclosures and data released on sales there.

Wedbush Securities analyst Daniel Ives said in a tweet it appeared Musk and Tesla were "trying to be ahead of a slower delivery ramp this year and preserve margins ahead of an economic slowdown."

Before Musk's warning, Tesla had about 5,000 job postings on LinkedIn from sales in Tokyo and engineers at its new Berlin gigafactory to deep learning scientists in Palo Alto. It had scheduled an online hiring event for Shanghai on June 9 on its WeChat channel.

On Tuesday, Musk told staff to return to the workplace or leave the company, a demand that has already faced pushback in Germany where the company has a new factory.

"Everyone at Tesla is required to spend a minimum of 40 hours in the office per week," Musk wrote in that email. "If you do not show up, we will assume you have resigned."

Musk has referred to the risk of a recession repeatedly in recent comments.

Remotely addressing a conference in mid-May in Miami Beach, Musk said: "I think we are probably in a recession and that recession will get worse." He added: "It'll probably be some tough going for, I don't know, a year, maybe 12 to 18 months, is usually the amount of time that it takes for a correction to happen."

In late May, when asked by a Twitter user whether the economy was approaching a recession, Musk said: "Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen."

Musk also engaged on Thursday in a Twitter spat with Australia tech billionaire Scott Farquhar, who ridiculed the directive in a series of tweets as being "like something out of the 1950s.”

Musk tweeted: "recessions serve a vital economic cleansing function" in response to a tweet by Farquhar who encouraged Tesla employees to look into its remote work positions.

Disguised layoffs?

Jason Stomel, founder of tech talent agency Cadre said of the return-to-work directive: "I think there's potential that this is just a disguised layoff, meaning they're able to get rid of people with attrition, or without having to actually have a layoff."

"(Musk) knows there's a percentage of workers who are just not going to come back," which he said would be cheaper because no severance would be needed.

 

(ANE)

 

 

[TurboGimmo]

Come Renault, come VW, come Stellantis... 

[GL91]

Sono l'unico malpensante ad avere il dubbio che dietro queste notizie ci siano dei bei movimenti di riacquisto di azioni? Se non erro tempo fa c'erano in corso delle indagini dell'ente di controllo statunitense, si sa come sono andate a finire?

[aboutdas]

2 ore fa, GL91 scrive:

Sono l'unico malpensante ad avere il dubbio che dietro queste notizie ci siano dei bei movimenti di riacquisto di azioni? Se non erro tempo fa c'erano in corso delle indagini dell'ente di controllo statunitense, si sa come sono andate a finire?

Non erri, la SEC tiene sotto scrutinio stretto Musk.

[Maxwell61]

3 minuti fa, aboutdas scrive:

Non erri, la SEC tiene sotto scrutinio stretto Musk.

E un'altro paio di enti,

e un paio di giudici per cause avviate relative a fenomeni di razzismo a Fremont, circa 200 denunce. 

[4200blu]

 

SAN FRANCISCO -- Elon Musk needs to cut one in ten jobs at Tesla. Some may already have their eye on the exit.

The Tesla CEO’s intentions, conveyed in an internal email seen by Reuters, are rooted in what he described as his “super bad feeling” about the U.S. economy.

Some of the nearly 100,000 people employed at the automaker may already be considering their options after Musk issued them with a return-to-office ultimatum.

In an email sent to staff Tuesday night, Musk threatened to fire anyone who did not work in the office 40 hours a week, a sharp contrast to flexibility offered by Big Tech companies that compete for the same talent pool.

The office edict, on top of a steep drop in Tesla’s share price this year – partly due to Musk's costly pursuit of Twitter – and his public alignment with the Republican party are a toxic mix for some staff.

"Tesla is kick-starting its own local Great Resignation," said Stanford University economics professor Nicholas Bloom, who predicted that 60 percent of employees would return to the office full time, about 10 percent would quit, and about 30 percent would look for another job.

Tesla did not immediately reply to a request for comment.

Some tech companies, sensing an opening, were quick to swoop.

Scott Farquhar, Australia’s third-richest man and the co-founder of software maker Atlassian, tweeted about plans to expand and offer flexibility. "Any Tesla employees interested?" he added.

In the wake of the COVID-19 pandemic, more and more tech workers, used to working from home or hybrid policies, are refusing to come back to the office full-time.

One former Tesla engineer told Reuters he recently took a job at Alphabet because of the lack of work-life balance, including pressure to come into the office during the pandemic.

At Google, he has to come to office only three times a week, with some of his team members working remotely, he said.

He said his friends working from home "are not less productive, but significantly happier."

Another former Tesla engineer said he had been under pressure to work in the office during pandemic in 2020 and got COVID twice - before moving to Apple.

Bigger stock compensation

The threat of layoffs and the return-to-office order come as Tesla engineers are watching their stock-based compensation drop.

Tesla faces some of the same problems assailing other companies, such as China lockdowns.

But investors also are concerned that Musk's $44-billion pursuit of Twitter is distracting him, despite Musk's contention that he spends relatively little time on it.

Tesla stock fell 9 percent on Friday after Reuters published his staff cut plan and Twitter said the Musk acquisition had passed U.S. antitrust review.
The stock had already been down about 30 percent since Musk announced his purchase of shares in early April, roughly double the drop of the Nasdaq index.

"If this is sustained, they will absolutely have a retention problem. You have got two things happening. You have got Elon Musk saying things that are controversial and do not appeal to everybody. And you have got the stock price taking a big hit," said Michael Solomon, founder of compensation negotiation advisory service 10x Ascend.

Stock options are a bigger portion of executive compensation at Tesla than at its peers, the company said in its securities filing this year. When shares do not go up, that part of compensation can be worthless.

Tesla employees get annual bonuses in the form of stocks, and generally receive lower cash salaries than peers at big tech companies, according to former and current employees and data provided to Reuters from job sites Blind and Glassdoor.

Tatiana Becker, who runs NIAH Recruiting, a recruiting firm for startups, recently did an email marketing campaign to Tesla employees and received responses from 14 percent, compared with a normal top rate of 10 percent.

Musk brand

To be sure, Musk's brash personality has helped build the Tesla brand, allowed it to expand without marketing, and given many employees a sense of mission tied to the man and his climate goals.

Long hours and unreasonable working conditions are the norm for some, a former Tesla engineer said: "It's how we are wired."

And other tech companies are cutting jobs or slowing or pausing hiring amid weakening demand, potentially reining in some Tesla staff's willingness to jump ship.

But Musk's recent embrace of a new partisan political identity is off-putting to some employees, particularly liberal tech workers in Silicon Valley.

"He's a very polarizing guy. You either love the guy or you hate the guy," said Will Hunsinger, CEO at recruiting firm Riviera Partners.

"Some people are huge fans, and they will do anything to work for one of his companies. And others will say, like, I do not really agree with his way of running the company."

The billionaire has tapped his large Twitter following to attack Democratic lawmakers, used his bid for the microblogging platform to champion free speech, including a pledge to restore former president Donald Trump's account, and he has said he will vote Republican.

"There are people for whom this is very distasteful," recruiter Solomon said. "These are people who have a lot of choices about their employment options."

Many Tesla employees will wait for the stock to recover, said a former Tesla manager, who described stock awards as "golden handcuffs" that keep staff from leaving. "But if they think the Tesla share price will remain low, then they are more likely to leave: their big bonus is not so big anymore."

 

(Reuters)

 

 

[4200blu]

Tesla cuts waiting time for Model Y cars in China to a minimum of 4 weeks

Tesla has cut the waiting time in China for some Model Y SUVs to as little as four weeks and 12 weeks for the Model 3 sedan.

 

SHANGHAI -- Tesla has cut the delivery waiting time for its Model 3 and Model Y cars in China as it ramps up output at its Shanghai plant after upgrading production lines.

The waiting time for the rear-wheel drive Model Y SUV is now four to eight weeks, while buyers of other versions of the SUV and Model 3 sedans need to wait for 12 to 20 weeks.

Tesla previously said a buyer in China had to wait for eight to 24 weeks after placing an order for the best-selling models.

Tesla confirmed the shortened waiting time, first disclosed on the company's Chinese website, citing the output ramp-up at its Shanghai plant as one of the reasons.

The automaker usually delivers more of its cars produced in Shanghai to Chinese customers in the latter half of each quarter, which also brings an acceleration in deliveries, the company said.

Tesla has completed a major upgrade of the production lines at its Shanghai plant, its most productive manufacturing hub, and is ramping up output with a target of making 22,000 Model 3 and Model Y cars combined each week.

CEO Elon Musk has said production is a bigger challenge for the company than demand.

Tesla is struggling to increase output in its Berlin and Texas plants, while production losses during a two-month COVID-19 lockdown in Shanghai hurt Tesla's profit margin in the second quarter.

The company has stopped taking orders for its Cybertruck outside North America, and also for Model 3 Long Range vehicles in the United States and Canada, citing big delivery backlogs.

 

(Reuters)

 

 

Modificato 19 Agosto 2022 da 4200blu

[Maxwell61]

Le ultime proiezioni di TroyTeslike, il migliore a fare le proiezioni di vendita Tesla e riferimento anche per gli analisti finanziari. Un paio di interessanti dati dalle sue ultime proiezioni.

 

- Dopo aver raggiunto il milione di auto vendute nel 2021, quest'anno leggermente al di sotto della solita progressione, per i problemi di sourcing comuni a tutti e per l'avvio ancora lento di Texas e Germania. Previsti circa 1,400,000 esemplari per il 2022.

 

- Dalle provenienze delle fabbriche destinate all'Eurozona, si conferma che le batterie PANASONIC (vedi grafico 2019) sono destinate esclusivamente agli USA.

In EU, finchè non si vedono le nuove CATL in Germania, continuano ad arrivare le Model 3 con LG CHEM fatte in Cina, NMC 811, le cui curve di ricarica fanno pena, come da grafico. Sapevatelo. E fanno bene a tenerle basse...

 

PS: A titolo di esempio, una Model 3 2021-22 EU LR, al 57% SOC va a circa 80 kW (a temp ottimale) mentre una Kia EV6 va a 237 kW, come si diceva in altro thread.

 

 

Modificato 30 Agosto 2022 da Maxwell61

[etr650]

Prima o poi ci sarà una nuova Model S ?

[4200blu]

Cambiera Tesla da IDRA a Bühler per le Giga-Press?

 

Tesla Reportedly Looking To Change Giga Press Suppliers

The automaker is said to be in talks with Switzerland’s Bühler, according to industry watcher.

 

Tesla has so far had only one supplier for its Giga presses, Italy’s IDRA, but according to information from China, starting next year it will switch to a new manufacturer. Take this with a grain of salt for now as it is only a rumor, and even if true, it doesn’t necessarily mean IDRA will be dropped altogether - maybe the two companies will build different machines.

Bühler was actually approached by Tesla back in 2019 when the automaker had announced that it was looking for a 6,000-ton Giga press. The Swiss multinational plant equipment manufacturer turned down the offer then, but the fact that Bühler was considered three years ago does confirm that the two companies are in contact.

Tesla’s Giga press supplier will be replaced from Italy’s IDRA to Switzerland’s Bühler next year. The latter is also one of the world’s 6 largest die-casting giants. It rejected Tesla’s demand for a 6000t-level Giga press in 2019, but now their products offer better performance.

Tesla’s Giga press supplier will be replaced from Italy’s IDRA to Switzerland’s Bühler next year. The latter is also one of the world’s 6 largest die-casting giants. It rejected Tesla’s demand for a 6000t-level Giga press in 2019, but now their products offer better performance.

Tesla is said to have at least 12 Giga presses today and it will need more of them as it continues looks to start building all its vehicles from fewer (and larger) cast pieces. The manufacturer has currently only used mega castings in the production Model Ys built at its Austin and Berlin plants; it takes under two minutes for each large casting to be created, so double that and that’s how long it takes Tesla to create a new Model Y shell.

 

(insideev)