Tesla's share price plummeted more than 9% masked to employee letter exposure |亨 网 – US There. Camp



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Tesla Chief executive Elon Musk announced on Friday (18) that he would chop 7% of his staff and send an email to employees explaining the need for layoffs.

Due to bad news, TSA-US. There. Shares plunged on Friday falling more than 9%.

Musk said in the letter that although the company made great progress, the price of the product is still too expensive for most people.

Musk explains that faced with a large and deep root rival, the company is relatively younger than other companies, and its operations are in a very difficult situation. Tesla must deposit employees and increase the productivity of model 3 in the future. Many manufacturing engineering improvements have been made in the month.

The following is the full text of the mail:

As we have personally experienced, going to (2018) is the most challenging year in Tesla's history. However, thanks to your efforts, 2018 is also the most successful year in Tesla's history: our last-quarter delivery of electric vehicles is almost the same as that of 2017. The number of cars delivered last year was almost the same as The sum of all previous years. ! The model 3 model is also the best selling luxury car in the United States in 2018, which is incredibly impressive. I remember that not long ago, very few people think that we can achieve that achievement.

Our mission is to accelerate the arrival of a sustainable transportation and energy era that is vital for all life on earth. Looking forward, we have a very difficult challenge: making our cars, batteries and solar products more cost-competitive than chemical fuels. Although we have made great progress, our products are still too expensive for most people. For the past 10 years, Tesla has only produced cars, and we are faced with a large, deep-rooted rival. Therefore, while Tesla is developing affordable, sustainable products, it must pay more than other manufacturers to survive.

In the third quarter of last year, we achieved a 4% profit margin. Although this benefit is not high on most of these standards, I still consider it the first significant benefit indicator for our 15-year TESLA establishment. However, this is partly because we are prioritizing the sale of the higher-priced 3 models in North America. The preliminary unaudited fourth-quarter results showed that we achieved profit again in the US. There. Gaap, however, is lower than the third quarter. At this time, as the third quarter of last year, the high-priced version of Model 3 for European and Asian shipments will hopefully allow us to achieve scarce profits, which is very difficult and requires a lot of effort and luck .

However, since May we need to provide at least the three model models in all markets, as we need to attract more customers who can afford our cars. In addition, we need to continue to progress on the low-priced model 3 models. Meanwhile, our inexpensive model is the 264-mile model that comes with a premium sound system and built-in, priced at $ 44,000. July 1, the US There. Tax credit will be halved again.This then, the cost of our car will increase by $ 1,875, which will make us need to launch a low-priced version of model 3 more urgently, and by the end of this year, Tax credit will be fully canceled.

These figures are regrettable, but I want to let you know all the hard facts and understand the future is very difficult. This is no stranger to us, that is, "We always have difficult challenges," but that is the fact that I am.

There are also many companies that allow you to better work and live because they are bigger, more mature and less competitive. To produce cheap clean energy products in a large scale, we must resist and resist creating. But with the success of completing our mission is essential to ensure a better future, so we must do everything we can to develop this cause.
In summary, unfortunately we have no choice but to cut about 7% of full-time employees (up to 30% of last year, over our affordable capacity), the most important temporary and contracted personnel. To improve the model 3 productivity, TESLA will need to take layoffs as a result of some manufacturing improvements over the coming months. Higher production and manufacturing design improvements are critical to TESLA's production of a standard mileage of $ 35,000 (220 miles), the balance economies demanded for the standard-built model 3, and continued survival. We have no choice about this.

For those employees who are leaving, thank you for everything you have done to advance our mission. I am very grateful to all of you for contributing to TESLA. Without you, there is no Tesla today.

For those who remain in the company, despite the many challenges ahead, I believe we have the most exciting product roadmap for all consumer product companies in the world. Automated driving cars, model Y, large electric semi-trailers, Roadster sports cars, and PowerWheel / pack energy storage batteries and solar roofs are the only automotive product line up.

I'm honored to work with you.
Thank you for everything you have done.

Elon

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