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☆ Former Tesla SVP Drew Baglino is selling $181.5 million worth of stock, SEC filing says
▼ + stars: | 2024-04-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Former Tesla executive Drew Baglino, who announced his resignation earlier this month, sold shares in the electric vehicle company worth around $181.5 million, according to a filing on Thursday with the SEC. Baglino, who joined Tesla in 2006, is selling about 1.14 million of his shares, the filing said, listing an "approximate date of sale" of April 25, and describing it as an exercise of stock options. Tesla announced on April 15 that it's laying off 10% of its global workforce, following a drop in first-quarter deliveries and a steep slide in the stock price. Baglino announced his departure in a statement posted to X. Prior to the latest sale, Baglino had unloaded about $4 million worth of shares in two transactions this year — one in late February and the other in early April, filings show.

Persons: Drew Baglino, Baglino, Tesla, Rohan Patel, Baglino's, Musk, doubters Organizations: Fremont Factory, SEC, Tesla Locations: Fremont , California

☆ Tesla Needs to Fire Elon Musk As CEO If It Wants to Save Itself
▼ + stars: | 2024-04-24 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

There's only one person to blame for the company's shambolic state and only one person whose exit could save Tesla: Elon Musk. Investors want to see a concrete plan for a whole new fleet of Teslas made for a leaner, meaner EV market. The company needs a serious leader with practical ideas — no self-driving gimmicks, no blowtorches, no broken Cybertrucks, no shitposting, no video-game marathons, and no casual ketamine use. AdvertisementA true visionary CEO — which Musk has long claimed to be — would have pressed the advantage that Tesla developed in the EV market. He asserted that Tesla was not a car company but rather an AI robotics company.

Persons: Tesla, Elon, Musk, Gross, Teslas, Ross Gerber, Gerber Kawasaki, Tesla's, Gerber, Ron DeSantis, Navdeep Sodhi, innovating, —, Elon fanboys, Lex Luthor Organizations: Tesla, EV, Reuters, Bloomberg, Auto, Twitter, bungled, Sodhi, Fremont Factory Locations: Shanghai, San Jose, China, Elon, Germany, Texas, Beijing, Red, Berlin

☆ Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
▼ + stars: | 2024-04-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Typically, security guards inspect workers' badges at the site, but don't usually scan them directly, the two workers said. Related storiesThree other former Tesla employees said workers at the Fremont factory were told by security that if their badges didn't work they were no longer employed. The email sent directly to laid-off staff said the cuts would be effective immediately and workers would receive information regarding their severance within 48 hours. Tesla workers aren't the first to unceremoniously discover they've been terminated while trying to access their former place of work. Last year, some former Google employees told BI they learned they'd been laid off when they couldn't badge into the office.

Persons: —, Tesla, didn't, Elon Musk, Drew Baglino, Rohan Patel, they've, they'd Organizations: Service, Business, Fremont, BI, Google Locations: Tesla's, Sparks , Nevada, Nevada

☆ Tesla is laying off more than 10% of its workforce, memo shows
▼ + stars: | 2024-04-15 | by ( Grace Kay | Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Tesla is reducing its workforce by more than 10%, per an internal memo seen by Business Insider. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Some Tesla employees lost access to their emails and Teams by Monday, two people with knowledge said. Related storiesBefore the layoffs, Tesla said it employed over 140,000 workers globally, including over 20,000 at its Fremont factory in California. Musk told staff in May that he must personally approve all new Tesla hires.

Persons: Tesla, —, Elon Musk, Musk, Tesla's Organizations: Business, Service, Bloomberg Locations: Berlin, Fremont, California, Buffalo , New York

☆ Some Tesla employees worry that layoffs are coming
▼ + stars: | 2024-04-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Tesla employees fear potential layoffs may begin as early as this weekend. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementSome Tesla employees are concerned that layoffs are imminent, possibly as soon as this weekend. This is the second time in a matter of months that anxiety over possible layoffs has set in at Tesla. The reviews were later rescheduled, three sources told Business Insider.

Persons: Tesla, —, Austin gigafactory, they'd, hadn't, There've, Tesla's Organizations: Service, Austin, Fremont, Business, Bloomberg, Business Insider . Workers, Big Tech, Google, Microsoft, EV Locations: Tesla

☆ Tesla shares fall after deliveries drop 8.5% from a year ago
▼ + stars: | 2024-04-02 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla on Tuesday published its first-quarter vehicle production and deliveries report for 2024 that showed deliveries fell 8.5% from the year-ago quarter and about 20% from the fourth quarter. Tesla doesn't break out sales by model but reported that it produced 412,376 Model 3/Y cars and delivered 369,783. In the fourth quarter of 2023, Tesla reported 484,507 deliveries and production of 494,989 vehicles. Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. The system is marketed as Full Self-Driving but doesn't make Tesla cars autonomous.

Persons: Tesla, Troy Teslike, Martin Viecha, Elon Musk Organizations: Tesla, FactSet, Independent, CNBC Locations: Fremont, Gigafactory, Berlin, China, Shanghai, U.S, North America

☆ Tesla sales plunge far more than expected
▼ + stars: | 2024-04-02 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

Tesla has responded to increased competition by cutting prices. Although Tesla is more profitable than traditional automakers, the price cuts have been squeezing the profit margins that helped boost the stock. But the increased competition in the EV space is a big factor in the decline in demand. In the fourth quarter, Tesla lost the title of the world’s best-selling maker of EVs to Chinese automaker BYD. That has prompted some traditional automakers, such as General Motors and Ford, to pull back on their EV production plans.

Persons: New York CNN — Tesla, Elon, it’s, Tesla, Dan Ives, ” Ives, ” Organizations: New, New York CNN, Western, Tesla, Wedbush Securities, Motors, Ford Locations: New York, Fremont, China, Europe

☆ Leaked Tesla pay data: How much Elon Musk's factory workers now make across the US after some got raises
▼ + stars: | 2024-02-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Read previewTesla hiked pay for factory workers across the US last month. Internal documents viewed by Business Insider reveal how much the factory workers now make. Under the new pay guidelines that were announced in December and implemented on January 8, factory workers at Tesla make between $22 to $39 per hour, according to the internal documents. AdvertisementTesla divides its factory workers into seven levels, while leads are divided into two levels. The effort won't be without its challenges, as CEO Elon Musk has voiced confidence that a union isn't necessary and some Tesla workers previously told BI they'd be hard-pressed to join a union.

Persons: —, Tesla, autoworkers, Shawn Fain, Elon Musk Organizations: Service, Business, Tesla, Fremont, US Bureau of Labor Statistics, Workers, Bloomberg, Toyota, Hyundai, United Auto Workers, Fremont Factory, UAW Locations: Austin , Texas, Sparks , Nevada, Fremont, Palo Alto , California, California, Nevada, Texas

☆ Tesla erases references to DEI from its new 10-K following Elon Musk’s criticisms
▼ + stars: | 2024-02-01 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +5 min

New York CNN —Tesla CEO Elon Musk has a new social media target: Diversity, Equity and Inclusion. Following Musk’s recent critical posts about DEI policies and racial discrimination lawsuits against Tesla, the electric car company has omitted all language regarding minority workers and outreach to minority communities in its 10-K filing with the SEC made January 29. In Musk’s eyes, DEI is “just as morally wrong as any other racism and sexism,” he tweeted in December. And as recently as 2020, Tesla had been publishing its own corporate DEI reports, reaffirming its commitment to the mission. CNN has reached out to Tesla for comment, though the company does not usually respond to press requests.

Persons: Elon Musk, Tesla, ”, It’s, George Floyd’s, Harvard’s, Claudine Gay, Gonzalo Fuentes, Bill Ackman, Musk, ” Musk, Owen Diaz, Mark Cuban, “, Catherine Thorbecke, Nicquel Terry Ellis Organizations: New, New York CNN, Equity, SEC, Bloomberg, Tesla, Black Colleges, Universities, ”, Asian Pacific Islanders, Minneapolis, CNN, SpaceX, Twitter, Viva Technology, Reuters Billionaire, Harvard, DEI, California Department of Fair, Housing, Fremont, Dallas Mavericks Locations: New York, America, Paris, France, Fremont , California, Fremont, United States, ” Cuban

☆ Tesla is facing a lawsuit alleging it mishandled hazardous waste
▼ + stars: | 2024-02-01 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Read previewTesla was hit with a lawsuit on Tuesday that alleges the electric-car maker mishandled hazardous waste at its factories in California. District attorneys representing 25 counties in California filed the lawsuit in San Joaquin County Court and are requesting the court force Tesla to properly take care of its hazardous waste going forward and pay a series of civil penalties. Tesla disposed of hazardous waste into trash sites "not permitted to accept hazardous waste" and "failed to properly mark, label, and store containers and tanks of hazardous waste" at its facilities, according to the lawsuit. The lawsuit also alleges Tesla didn't properly train its employees on how to deal with hazardous materials. In 2019, Tesla paid the Environmental Protection Agency a $31,000 settlement over alleged hazardous waste violations at the Fremont Factory.

Persons: —, Tesla, It's, Elon Musk's Organizations: Service, San Joaquin County Court, Business, Reuters, Environmental Protection Agency, Fremont Factory, Elon Musk's The Boring Company, Texas Commission Locations: California, San Joaquin County, Texas, Bastrop , Texas, Colorado

☆ Tesla sued by 25 California counties over hazardous waste handling
▼ + stars: | 2024-02-01 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. Electric vehicle maker Tesla was sued by district attorneys representing 25 counties in California over the company's alleged improper handling of hazardous waste materials at facilities throughout the state. The company's first, high-volume EV factory in the world was its Fremont, California vehicle assembly plant, which it still owns and operates today. The lawsuit, The People of California v. Tesla Inc., was filed in a California state court in San Joaquin County on Tuesday. They also alleged that Tesla often failed to accurately label containers of hazardous materials that it generated, used or stored at its facilities, and failed to train employees in proper handling of hazardous waste.

Persons: Tesla, Eric Roesch, Roesch, Elon Musk, Moz.de Organizations: Tesla Fremont Factory, Electric, Tesla Inc, Reuters, SpaceX, CNBC, Cal . Health, Saf, Cal, Tesla, Economy Research Locations: Fremont , California, California, Austin , Texas, Palo Alto , California, San Joaquin County, Germany, Brandenburg

☆ Tesla ditched language saying it was 'a majority-minority workforce' after Elon Musk said 'DEI must die'
▼ + stars: | 2024-01-30 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Tesla removed language around its minority workers and employee groups in a recent legal filing. The carmaker ditched the references shortly after Elon Musk spoke out against DEI. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe 2022 filing also cited outreach to Historically Black Colleges and Universities and Hispanic Serving Institutions to sponsoring employee resource groups across numerous locations, including Asian Pacific Islanders at Tesla, Black at Tesla, Intersectionality, Latinos at Tesla, LGBTQ at Tesla, Veterans at Tesla, and Women in Tesla. Tesla's decision to omit any references to minority workers and employee resource groups comes only a few weeks after its CEO took to social media to criticize DEI.

Persons: Tesla, Elon Musk, —, Mark Cuban, Musk, it's Organizations: Elon, Service, Bloomberg, Black Colleges, Universities, Asian Pacific Islanders, Intersectionality, Tesla, DEI, Employment Opportunity, Fremont Locations: Tesla, Fremont, California

☆ Elon Musk warns Tesla workers they'll be sleeping on the production line to build its new mass-market EV
▼ + stars: | 2024-01-25 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Elon Musk said Tesla engineers will have to sleep on the production line to build the company's next-gen EV. Tesla workers have previously said they slept on factory floors during production ramp-ups. AdvertisementElon Musk warned Tesla workers to prepare themselves for a challenging production ramp-up as he previewed plans to build a mass-market vehicle. AdvertisementIt wouldn't be the first time that Tesla workers have reportedly had to sleep on manufacturing lines to meet the company's production deadlines. Tesla workers could face a heightened form of what Musk previously dubbed as "production hell" during Tesla's 2017 Model 3 ramp-up.

Persons: Elon Musk, Tesla, —, Elon, Musk, Tesla's Organizations: Service, Reuters, EV, BYD, Business Locations: Texas, Tesla's

☆ Tesla factory workers reportedly say they're getting in shouting matches — and sometimes even fights break out
▼ + stars: | 2023-11-21 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Some workers from the Texas factory told The Information that verbal fights occur at the facility on a near-daily basis — and even some physical fights have taken place, they said. Some workers told the publication that employees were taking Adderall and sleeping at the factory in order to keep up with Elon Musk's deadlines. Musk has been known to run his companies with high intensity, sometimes calling for work sprints and even sleeping on the factory floor at Tesla. Ahead of the 2017 release of the Model 3, Musk famously pushed workers at Tesla's Fremont factory through "production hell." "Nothing is more important to us than the safety of our employees," A Tesla representative told Insider in 2018.

Persons: Elon Musk, —, Tesla's Austin gigafactory, Elon, Tesla, Travis, Musk, Austin gigafactory, we've Organizations: Service, Local, Police, Occupational Safety, Health Administration, Austin, San Antonio Express, Business, Reuters, SpaceX, Bloomberg Locations: Texas, Tesla's, Travis County ( Texas, Tesla

John J. Kim | Tribune News Service | Getty ImagesDETROIT – United Auto Workers President Shawn Fain wants to expand the union's battle from the Detroit automakers to Tesla , Toyota Motor and other non-unionized automakers operating in the U.S. The UAW has previously failed to organize foreign-based automakers in the U.S. The UAW has previously discussed organizing Tesla's Fremont plant in California with little to no traction in those efforts. "Workers at Tesla, Toyota, Honda, and others are not the enemy — they're the UAW members of the future," Fain said. UAW President Shawn Fain marches with UAW members through downtown Detroit after a rally in support of United Auto Workers members as they strike the Big Three auto makers on September 15, 2023 in Detroit, Michigan.

Persons: Shawn Fain, John J, Kim, We've, Fain, Stellantis, we've, Ford, Bill Ford, Toyota Fain, Bill Pugliano, Tesla, Elon Musk, Musk, Tom Williams Organizations: United Auto Workers, UAW, Tribune, Service, Getty, DETROIT, Detroit, Tesla, Toyota Motor, U.S, General Motors, Ford Motor, Chrysler, Volkswagen, Nissan, GM, Ford, American, . ", Toyota, Honda, Bloomberg News, Bloomberg, CNBC, Cq, Inc Locations: Chicago, U.S, Fremont, California, Kentucky, Detroit, Detroit , Michigan, Fremont , California

☆ Some Tesla workers say they'd never work in a unionized factory, even as Ford and GM workers are set to get a major pay boost
▼ + stars: | 2023-11-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

While Elon Musk has spoken out against unions, a major Tesla factory reportedly has a UAW organizing committee that's speaking with workers. Some Tesla workers say they wouldn't join a unionized company and predicted the UAW would struggle to find footing at Tesla. AdvertisementAdvertisementThe United Auto Workers might have set its sights on Tesla, but some workers at the EV company told Insider they'd be hard-pressed to join a union. Even before the 36-day strike, Ford and GM already spent over $20 more per hour on factory workers than Tesla, according to analysts. Still, other workers told Insider they wouldn't jump ship even for a better pay package at a unionized company.

Persons: Elon Musk, —, Shawn Fain, Tesla, Musk, they'd, Metall, Marquard, it's, you've, Fain, Elon Organizations: UAW, Tesla, Service, United Auto Workers, EV, Detroit automakers, Ford, General Motors, GM, Fremont, Elon Musk's, National Labor Relations Board, Buffalo New, NLRB, Bloomberg, Workers Locations: Fremont, California, Buffalo New York, rehire, company's Brandenburg, Tesla, Tesla's

☆ Ex-Tesla factory worker loses bid for new trial in race bias
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: +3 min

An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. A Black former factory worker for Tesla lost his bid on Wednesday for a third trial in his race discrimination lawsuit against the electric carmaker, after a California federal judge rejected his claims that the company's lawyers had engaged in misconduct and tainted his trial. Equal Employment Opportunity Commission last week, to allege rampant racial harassment at Tesla's flagship Fremont, California assembly plant. The judge ordered the second trial to determine damages after Diaz turned down a lower payout of $15 million. Orrick barred both sides from presenting new evidence or testimony at the second trial, which took place in March.

Persons: Tesla, William Orrick, Owen Diaz, staving, Diaz, baselessly, Orrick Organizations: Tesla Fremont Factory, U.S, Commission Locations: Fremont , California, California, San Francisco, Fremont

☆ Equal Employment Opportunity Commission sues Tesla alleging racism at California factory
▼ + stars: | 2023-09-28 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —The United States government’s Equal Employment Opportunity Commission sued Tesla Thursday alleging the automaker allowed repeated and overt displays of racism toward Black employees in its Fremont, California, factory. Racist slurs were allegedly used often by non-Black employees when speaking to Black employees at the factory, according to the suit. This is not the first time Tesla has faced legal repercussions for alleged racist behavior in the Fremont factory. In 2022, a California state civil rights agency also sued Tesla accusing the company of allowing racist abuse in the factory. Shortly before the California state suit was filed last year, Tesla published a blog post denying such allegations.

Persons: Tesla, Black, “ Tesla Organizations: CNN, United, Opportunity, Court, Northern District of, Tesla Locations: United States, Fremont , California, Northern District, Northern District of California, Fremont, California

☆ Listen to ex-Tesla workers describe Elon Musk's 'production hell' in their own words, from working through a raw sewage leak to sleeping on the factory floor
▼ + stars: | 2023-08-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

Tesla workers described what it was like to work through "production hell" in a new podcast. The ex-Tesla workers told The Verge that they worked long hours and faced high pressure to deliver. Tesla workers shared their experience working at the automaker during Elon Musk's stretches of "hardcore" production in a recent podcast from The Verge. He also said he recalled a raw sewage leak that some Tesla workers were told to continue working through. At the time, a spokesperson for Tesla told Insider that the company was not aware of any instances in which managers told workers to walk through sewage.

Persons: Carlos Gabriel, Musk, Gabriel, he'd, Tesla, Huibert Mees, Denis Duran —, —, Duran, we've, Elon Musk, Mason Trinca, Melvin Berry, Elon, Berry, Mees Organizations: Morning, Giants, Tesla, Fremont, Washington Post, Apple, Bloomberg, Union, The Washington, Getty, Wired, Twitter, EV Locations: Elon Musk's

☆ 'I am a fan of Modi': Elon Musk on his friendship with Indian Prime Minister Modi
▼ + stars: | 2023-06-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

CEO of SpaceX and Tesla, and owner of Twitter, Elon Musk, at the Viva Technology conference at the Porte de Versailles exhibition center on June 16, 2023 in Paris, France. Tesla CEO Elon Musk says he is "incredibly excited about the future of India," adding that it has "more promise than any large country in the world." "I am a fan of Modi," Musk admitted Tuesday in a video interview published on Prime Minister Narendra Modi's official YouTube page. Modi and Musk last met in 2015 when the Indian prime minister visited Tesla's Fremont Factory in California. The Indian prime minister is on his first state visit to the U.S., where he's expected to hold high-level talks with leaders and business executives on defense, technology and India's role in the Indo-Pacific.

Persons: Elon Musk, Porte, Modi, Musk, Narendra Modi's Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, Tesla's Fremont Locations: Paris, France, India, New York, Tesla's, California, U.S

☆ Tesla investors call for 'distracted' Elon Musk to be reined in as they worry he's 'overcommitted'
▼ + stars: | 2023-04-21 | by ( Grace Kay | Sam Tabahriti | ) www.businessinsider.com time to read: +5 min

Tesla investors called for Elon Musk to be reined in an open letter, citing the CEO's many commitments. A group of Tesla investors is calling for Elon Musk to be reined in, saying the CEO has been distracted by commitments to his other companies like Twitter. "The Board allowed the CEO to be overcommitted at a time when the company faces critical challenges," the letter stated. Tesla and Musk didn't immediately respond to requests for comment from Insider ahead of publication. Gerber's name is not listed on the open letter.

☆ Watch the Tesla Cybertruck run suspension tests at the Fremont factory
▼ + stars: | 2023-04-05 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Elon Musk has slowly dripped out details about the electric pickup truck since the reveal in 2019. In the years since the Cybertruck reveal, Elon Musk has slowly dripped out details on the truck. Once the Cybertruck does go on sale, it will be entering an increasingly crowded electric pickup truck market. GM is also planning to release an all-electric version of its popular Chevrolet Silverado truck this fall, while Ram's upcoming electric pickup truck is featured at the New York Auto Show this week. Watch the latest Cybertruck video here:Are you a Cybertruck order-holder?

A judge agreed with that jury that Tesla was liable but said the award was excessive. He ordered a new trial on damages after Diaz declined the reduced $15 million award. But it could be cut even further because punitive damages are typically capped at no more than nine times the amount of damages for emotional distress and other injuries, Saba said. The punitive damages awarded by the jury on Monday were nearly 20 times the damages for emotional distress. The first jury in 2021 awarded Diaz $7 million in damages for emotional distress and a staggering $130 million in punitive damages.

He opted for a new trial on damages after a judge agreed with that jury that Tesla was liable but significantly reduced the award to $15 million. Tesla and lawyers for Diaz did not immediately respond to requests for comment on the verdict. The first jury in 2021 awarded Diaz $7 million in damages for emotional distress and a staggering $130 million in punitive damages. On Friday, Orrick denied a motion by Diaz's lawyers for a mistrial. Orrick said those questions were related to other incidents discussed in the first trial, and that Diaz's lawyers had not shown that the questioning prejudiced the jury.

☆ The second day of Tesla's racial bias trial included testimony from a former worker who said he found feces on a factory cart
▼ + stars: | 2023-03-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

It was part of a retrial for an ex-contractor who filed a racial discrimination lawsuit against Tesla. Wheeler was one of a handful of former Tesla workers that testified on Tuesday regarding their experience as Black workers at Tesla's Fremont factory. Wheeler said that the incident occurred one evening during his night shift at the factory after he took a 30-minute break. Wheeler had testified about the alleged incident in the initial trial in 2021. His complaints echo similar lawsuits from other Tesla factory workers.

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