Bloomberg forum: Elon talks about Trump, Twitter and job cuts [video]

By Gabe Rodriguez Morrison
Elon Musk speaks at Bloomberg's Qatar Economic Forum
Elon Musk speaks at Bloomberg's Qatar Economic Forum
Bloomberg

Tesla CEO Elon Musk recently attended Bloomberg's Qatar Economic Forum focused primarily on the diversification of the world economy and the development of renewable energy.

Elon Musk spoke about a variety of topics, including recession fears, Tesla Job cuts, growth and competition and the recent Twitter buyout.

Elon Musk said that a recession in the U.S. “is inevitable at some point. As to whether there is a recession in the near-term, that is more likely than not.”

Musk also shared more details on the recent Tesla job cuts:

“Tesla is reducing its salaried workforce roughly 10% over the next three months or so. We expect to grow our hourly workforce. We grew very fast on the salaried side, grew a little too fast in some areas."

He added, “A year from now, I think our headcount will be higher both in salaried and hourly” workers, but for now the headcount reduction will be ‘3% to 3.5%.’”

When asked about Bloomberg's own forecasts of Volkswagen overtaking Tesla, Musk disagreed:

Musk also spoke about Tesla’s growth in relation to global supply constraints. He said that this was a bigger issue than competition from rival automakers. “Our constraints are much more in raw materials and being able to scale up production.”

Later on at the same event, CEO of Qatar Investment Authority, H.E. Mansoor Bin Ebrahim Al- Mahmoud was asked about Musk's bid to take over Twitter. He replied: "We believe in Elon's leadership, and that's why we have committed on this transaction."

Tesla's Supercharger Team Shakeup: Firings, Rehiring, and Future Prospects

By Karan Singh
Not a Tesla App

Tesla recently fired the entire Supercharger team, including Tesla’s head of charging – Rebecca Tinucci, after she pushed back on the extreme layoffs that took place right before the cut.

The Supercharger team consisted of over 500 employees, at least after the initial layoffs. In the following days and weeks, Tesla began to rehire some of the employees that it had fired.

Some Damage Done

In the immediate aftermath of the firing of the Supercharger team, contractors and site planners were left bewildered, with no contact from the Supercharger team that was responsible for payment, planning, and decision-making.

As this has played out, new Supercharger deployments have been reduced – stations that were already being built are being completed, but no new announcements have been made since t

It was dire news at the time - but it isn’t all bad.

Returning Employees

Now, more and more of the employees that were fired are beginning to return to Tesla, some of whom are announcing that they were asked to return to Tesla in their previous capacities.

George Bahadue, Senior Manager of Site Acquisition and Business Development commented on LinkedIn:

“Two weeks ago, I was asked to return to Tesla in my previous capacity heading up the business development and site acquisition for Tesla charging – I accepted.”

His reasoning to accept the position was a quote from Rebecca Tinucci:

“You work at Tesla because you hope to have at least a small impact on our collective future – aspirationally, to leave the world better for our children and grandchildren and their children and grandchildren – by accelerating the transition to sustainable energy. And that mission is too important to allow any distractions.”

New Stations Could be Coming Soon

With the restaffing of the Supercharger team, especially with the return of George Bahadue, we can expect that new Supercharger sites may be announced in the coming weeks, as the ripple effect from the layoffs begins to settle.

The rehiring of experienced staff suggests that Tesla and Elon Musk are still committed to the vision of maintaining and expanding its Supercharger network – the largest and most reliable charging network in North America, which is crucial for the mission to move the world to renewable energy.

Tesla Cuts Model Y Output in China – Economic Slowdown and Anticipated Project Juniper Launch

By Karan Singh
Not a Tesla App

Tesla recently cut Model Y output in China, according to data from the China Association of Automobile Manufacturers (CAAM), Tesla’s production of the Model Y in China experienced a decline of approximately 18% in March, and 33% in April, versus the same time last year.

Output Cuts

These output cuts can be attributed to Tesla’s recent decision to reduce production of the Model Y at Giga Shanghai by at least 20% from March to June 2024. This was attributed to an unnamed Spokesperson by Reuters last week.

This decision could be multifaceted – the primary reason being an economic slowdown in China as price wars continue to be waged between EV manufacturers, including Tesla. On the flipside, Tesla has continued its production of the updated 2024 Model 3, colloquially referred to as the Highland, with an increase of 10%.

Project Juniper?

The second reason for this slowdown could be the incoming arrival of the Model Y refresh – also known as Project Juniper. Tesla China has already introduced an updated Model Y with a unique cloth dash with similar ambient lighting as the Model 3.

The Model 3 Highland was also introduced in China before its introduction to other markets, including North America and Europe.

Juniper Upgrade Speculation

Not much has been seen about Project Juniper at this time, but we can expect a similar suite of upgrades that match the updated 2024 Model 3 Highland – including a new front fascia design, updated doors and dynamics, steering updates, improved control arms, ambient lighting, new seats, and improved range.

There is a continued expectation that Tesla is pushing back its Model Y refresh – its best-selling vehicle – to make a bigger splash. This could include newer features – like the Cybertruck’s Steer-by-Wire, front camera, or other upgrades and changes – like the lack of stalks on the rest of the Tesla line-up.

Tesla previously confirmed we’re not seeing the Juniper Y this year, this could be the time needed to retool and upgrade lines to prepare for its introduction sometime next year.

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