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☆ Tesla needs to figure out how to sell cars. Its salespeople say it's stuck in the past.
▼ + stars: | 2024-08-01 | by ( Grace Kay | ) www.businessinsider.com time to read: +10 min

The company's sales team has been struggling to adapt to a much different market, according to 14 current and former employees from Tesla's sales division in North America. The carmaker is also attempting to fix a spate of bad publicity surrounding its CEO, Elon Musk — all with little in the way of advertising initiatives or traditional sales strategies. The electric-car maker made its mark by breaking industry standards with its ad-free, direct-to-consumer sales model. Now, some of Tesla's sales staff believe it's time for the company to begin acting like a traditional automaker. Musk has been vague about when a new, more economically priced Tesla model would hit the market, saying only that it could happen in 2025.

Persons: —, Tesla, Elon Musk, What's, Musk, shouldn't, Tesla backpedaled, Brian Moody, Autotrader Organizations: Service, US EV, Business, Tesla Locations: North America

☆ Tesla prioritizes Musk's and other 'VIP' drivers' data to train self-driving software
▼ + stars: | 2024-07-09 | by ( Grace Kay | ) www.businessinsider.com time to read: +14 min

Business Insider has learned that those annotators focus their efforts on two high-profile categories of drivers: Tesla CEO Elon Musk and a select set of "VIP" drivers. These drivers are internally referred to as "VIP" users and their data is at times put in VIP queues, according to the workers. Related storiesData collected from VIP users, including high-profile Tesla drivers who post on YouTube, is scrutinized more heavily and more likely to be labeled, three current and former workers said. They said they'd been specifically told by leads on their teams that they were working on "VIP data" and had received overtime pay to work on the data ahead of FSD updates. Tesla's self-driving in the regulatory spotlightTesla has come under increasing scrutiny from regulators over the self-driving software and the company's marketing of the service.

Persons: —, Elon Musk, Musk's Teslas, YouTubers, Musk, Tesla, Tesla's, John Bernal, Bernal, else's, annotators, Walter Isaacson's, Tesla influencers, FSD, they'd, Raj Balwani, Chuck Cook, Tesla Raj, Balwani, I've, Cook, he'd, they're, Missy Cummings, Cummings, Philip Koopman, Koopman Organizations: Service, Business, Tesla, SpaceX, Twitter, California Department of Transportation, YouTube, National, Traffic Safety Administration, Carnegie Mellon University, US Justice Department Locations: Hillsborough , California, Tesla's Austin, Fremont , California, Hawthorne , California, California, San Francisco, Buffalo , New York, Los Angeles, Hawthorne, YouTubers, Lombard

☆ CNBC Daily Open: Dow posts best week since May, Tesla staff down by 14%
▼ + stars: | 2024-06-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech-centric Nasdaq Composite remained flat, while the Dow Jones Industrial Average had its best week since May, rising 1.45%. The yield on the 10-year Treasury ticked higher and U.S. oil prices rose 2.9% for the week. [PRO] Comeback stocksThe S&P 500 has soared to record levels, fueled by the AI boom, but not all stocks are riding the wave.

Persons: JPMorgan Chase, Goldman Sachs, Tesla, Elon Musk, Musk, Tim Lugo, William Blair's Organizations: CNBC, Nvidia, Microsoft, Apple, Nasdaq, Dow Jones, Citigroup, JPMorgan, Bank of America, Apple Intelligence, Union, Therapeutics, FDA, Organization for Rare Disorders, Nike, Starbucks Locations: U.S

☆ There's a pipeline of former Tesla staffers to Elon Musk's shiny new startup xAI
▼ + stars: | 2024-06-19 | by ( Kali Hays | Grace Kay | ) www.businessinsider.com time to read: +5 min

People who work for an Elon Musk company have an opportunity to do something uncommon in business. Some recently sued Musk over claims that he's funneling AI talent to xAI instead of Tesla. He said earlier this year he was "uncomfortable" expanding Tesla's AI and robotics capabilities without additional voting control. Related storiesThe carmaker's CEO also recently diverted prized chips necessary for AI work that was headed for Tesla to xAI, CNBC reported. Most of the xAI employees who formerly worked at Tesla started working at the startup immediately after Tesla enacted mass layoffs earlier this year.

Persons: Musk, Tesla, xAI, —, Kali Hays, Grace Kay Organizations: Service, Elon Musk, Business, xAI, Twitter, CNBC, BI, EV, SpaceX, The Boring Locations: Neuralink, Tesla, xAI, khays@businessinsider.com, gkay@businessinsider.com

☆ Elon Musk announces Tesla stock option grants for 'exceptional performance' — read his email to workers
▼ + stars: | 2024-06-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Read previewTesla is implementing a system to reward "exceptional performance" with stock option grants. "There will also ben an ongoing program to award spot option grants for anyone who does something outstanding for the company," Musk said. One Tesla worker told BI that they felt Musk's email was proof the tide might finally be turning. Read Musk's full email to Tesla staff below:Over the next few weeks, Tesla will be doing a comprehensive review to provide stock option grants for exceptional performance. There will also ben an ongoing program to award spot option grants for anyone who does something outstanding for the company.

Persons: —, Elon Musk, Musk, Tesla, We've, reapprove, Read, Elon Organizations: Service, Business, Reuters Locations: Delaware

☆ Jeff Bezos, Elon Musk, and other tech titans' most unconventional management practices
▼ + stars: | 2024-05-06 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Elon MuskElon Musk isn't a big fan of people being in meetings if they're not contributing value. Christian Marquardt - Pool/Getty ImagesMusk, the CEO of companies including Tesla and X, formerly Twitter, has described himself as a "nanomanager." Consistent with that style, Musk doesn't like delegating and last year told Tesla staff he wanted to personally approve all new hires . Musk also encourages people to leave meetings rather than stay in some cases. He's also said employees can feel free to buck the chain of command to get things done.

Persons: Elon, they're, Christian Marquardt, Tesla, Musk, He's Organizations: Getty

☆ Tesla layoffs continue as recruiters get cut
▼ + stars: | 2024-04-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Tesla informed some of its recruiters on Friday that they'd been laid off, sources told BI. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Three former Tesla workers confirmed to Business Insider that they had been informed of the layoffs via a call on Friday morning. More former Tesla recruiters have posted on LinkedIn saying they were notified their jobs had been impacted on Friday. The same day Tesla announced its initial round of cuts at least two executives resigned from the company.

Persons: Tesla, they'd, Elon Musk, —, Drew Baglino, Rohan Patel Organizations: Elon, Service, Business, LinkedIn

☆ We now know more about where Tesla is slashing jobs
▼ + stars: | 2024-04-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Tesla has laid off 280 workers at its Buffalo, New York facility. Elon Musk told Tesla staff he was cutting more than 10% of the company's workforce. The Buffalo site is used for training Tesla's driver-assist software, and energy storage products. On Sunday night, Tesla CEO Elon Musk told staff the company was cutting more than 10% of its workforce. AdvertisementTesla's Buffalo site is used as a site for the company's data analysis to train its Autopilot and so-called Full Self-Driving software.

Persons: Tesla, Elon Musk, —, who'd Organizations: Service, Worker, Business Locations: Buffalo , New York, Buffalo, New York, Tesla, California, Texas

☆ I relocated across the country when Tesla asked. Then I was laid off 6 months later.
▼ + stars: | 2024-04-16 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

On Sunday night, Elon Musk sent a company-wide email to Tesla staff announcing a workforce reduction of more than 10%. One laid-off Tesla worker said they moved about 6 months ago for the job before being let go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Then I went to my personal email account and I saw an email from Tesla that was sent out overnight. In that layoff letter they said the cuts were due to redundancy, but I didn't feel like my role was redundant.

Persons: Elon Musk, Tesla, —, hadn't, We're, I've, we're Organizations: Service, Tesla, Business Locations: California

☆ Read the memo Elon Musk sent Tesla staff announcing that the company is laying off more than 10% of the workforce
▼ + stars: | 2024-04-15 | by ( Jyoti Mann | Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk sent Tesla employees a memo on Sunday announcing the EV maker is laying off more than 10% of its workforce globally. Separately, Tesla started instructing managers in February to identify which roles at the company were business-critical and had temporarily delayed performance reviews. AdvertisementRead the full memo Elon Musk sent Tesla employees below:Over the years, we have grown rapidly with multiple factories scaling around the globe. This will enable us to be lean, innovative and hungry for the next growth phase cycle. As we prepare the company for the next phase of growth, your resolve will make a huge difference in getting us there.

Persons: Elon Musk, Tesla, I'm, Elon Organizations: Business, National Labor Relations Board Locations: California, Buffalo , New York

☆ Elon Musk tells staff they must give new customers a demo of Full Self Driving mode before giving them their car
▼ + stars: | 2024-03-25 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

Elon Musk sent an email mandating Tesla staff give demos of Full Self-Driving mode to new customers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In an early morning email to staff, Musk said it was "mandatory" that staff install and activate the FSD software on the vehicle, as well as give a test drive. This story is available exclusively to Business Insider subscribers.

Persons: Elon Musk, Musk, — Organizations: Service, Business

☆ Tesla's design chief leads workouts in the company parking lot
▼ + stars: | 2024-02-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Tesla's design chief, Franz von Holzhausen, conducts fitness sessions at the company's parking lot. Von Holzhausen leads a team of around 300 at a converted airplane hangar in Los Angeles. AdvertisementTesla's design chief Franz von Holzhausen isn't all work and no play — at least according to a new profile of the Cybertruck designer. Von Holzhausen, who has worked closely with Tesla CEO Elon Musk, likes to lead fitness training in the company parking lot, The Wall Street Journal reported on Friday. Though, von Holzhausen told the publication the billionaire is still "very involved" and sometimes shares design ideas from social media.

Persons: Franz von Holzhausen, Von Holzhausen, Elon Musk, —, Franz von Holzhausen isn't, von Holzhausen, Von Holzhausen didn't, Tesla, Walter Isaacson's, Musk, who've, Von Holzhausen's, Holzhausen, Jay Leno's Organizations: Service, Tesla, Street, Business, Volkswagen, General Motors, Mazda, Twitter, Apple, Jay Leno's YouTube Locations: Los Angeles

☆ Tesla is giving staff at its Berlin Gigafactory a raise, report says, as the auto industry battles growing worker discontent
▼ + stars: | 2023-11-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Tesla is giving 11,000 staff at its Berlin Gigafactory a 4% pay rise, per the WSJ. Tesla workers in Sweden are already on strike, while the UAW wants to recruit members. AdvertisementAdvertisementTesla is giving workers at its Berlin Gigafactory a pay rise as unions eye the EV manufacturer, The Wall Street Journal reported. But the pay rise also comes at a shaky time for Tesla management. AdvertisementAdvertisementLast month, IG Metall said union signups from Tesla workers had surged, and accused the company of failing to follow health and safety protocol.

Persons: Tesla, —, Elon Musk's, Rishi Sunak, IG, Metall, Shawn Fain Organizations: UAW, Service, Street Journal, The, AI, British, Reuters, Germany's, United Auto Workers, Detroit, General Motors . ", Tesla, Toyota, Honda, CNBC Locations: Berlin, Sweden

☆ Elon Musk reportedly complained about the Cybertruck's design and wants it to be as precise as a Lego brick
▼ + stars: | 2023-08-25 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Elon Musk emailed Tesla staff this week to complain about the Cybertruck design, CNBC reported. Musk reportedly said: "Any dimensional variation shows up like a sore thumb." AdvertisementAdvertisementElon Musk sent an email to all Tesla staff on Wednesday complaining about the quality of the Cybertruck design, CNBC reported. On Wednesday, the same day he sent his email, Musk shared a photo of himself driving a "production candidate" Cybertruck. Musk said in May that the truck would be available for customers to buy by the end of this year.

Persons: Elon Musk, Tesla, Musk, that's Organizations: CNBC, Electrek, micron, Tesla

☆ The Tesla executive who was rumored to be next in line for CEO is leaving the company
▼ + stars: | 2023-08-07 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Tesla's CFO Zachary Kirkhorn is leaving the carmaker, the company said in a regulatory filing. Zachary Kirkhorn, Tesla's chief financial officer, is leaving the electric-car company after working for the electric-car maker for about 13 years. Tesla staff told the Journal that Kirkhorn won Musk's approval by leading with "bad news" and staying in the billionaire's shadow. Kirkhorn worked as an analyst at McKinsey & Company before joining Tesla and previously interned at Microsoft, his profile says. Kirkhorn, Musk, and a spokesperson for Tesla did not respond to a request for comment ahead of publication.

Persons: Zachary Kirkhorn, Elon, Kirkhorn, Vaibhav Taneja, Tesla, Kirhorn, Elon Musk, James Murdoch, Musk, Tim Cook, Steve Jobs, Jobs, Cook, Deepak Ahuja, Afshar Organizations: Street, Elon Musk's, Tesla, EV, Securities and Exchange Commission, LinkedIn, Street Journal, Musk's, Apple, McKinsey & Company, Microsoft, SpaceX

☆ Tesla is laying off a bunch of its Shanghai Gigafactory workers, weeks after Elon Musk visited and praised their hard work
▼ + stars: | 2023-07-07 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Tesla is laying off some staff at the Shanghai Gigafactory, Bloomberg reported. Tesla is laying off some staff at its Gigafactory in Shanghai, Bloomberg reported, five weeks after Elon Musk praised them. A video of the world's richest person giving a late-night speech to his Tesla staff was then shared by the Chinese state newspaper Global Times. Before leaving on a private jet back to the US, Musk also purchased burgers and soft drinks for 100 of the Gigafactory workers. Tesla workers then criticized Musk on Chinese social media, and some people even complained to his mom on Twitter.

Persons: Tesla, Elon Musk, Musk, It's, Musk's, who've Organizations: Shanghai Gigafactory, Bloomberg, Morning, Shanghai, Global Times, Reuters, China Passenger Car Association, CNN, Twitter Locations: Shanghai, China

☆ Tesla's China expansion hits speed bump amid industry overcapacity
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +5 min

"You could argue that as Tesla, I've got new products, I need to have a new factory to build them in," he said. "But viewed from the China government's point of view, all they see is a market that's oversupplied." Construction of Tesla's Shanghai plant took less than a year to complete after it broke ground on the site in 2019. U.S. luxury EV maker Lucid Group (LCID.O) is also keen to make cars in China but has been advised that the possibility was low, industry sources said. "China needed Tesla to open the market for retail consumers, but Tesla needs China, because the supply chain benefits of being here and the competitive bar that's set here makes Tesla a more competitive company globally.

Persons: Tesla, Bill Russo, I've, Elon Musk, Ding Xuexiang, Musk, it's, Dan Ives, EVs, Nio, Xiaomi, Automobility's Russo, Zhang Yan, Brenda Goh, Jamie Freed Organizations: National Development, Reform Commission, Tesla, Wedbush Securities, Reuters, HK, Lucid, Thomson Locations: China, SHANGHAI, Shanghai, Beijing, CHINA, United States, Southeast Asia, Canada, India, South Korea, Indonesia

☆ 10 Things in Tech: Apple's big metaverse push
▼ + stars: | 2023-06-05 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

This week, Apple is preparing to do what no tech firm has managed yet: make the metaverse cool. Apple is ready to enter its metaverse era, but the rest of the world might not be. Some people think it's unwise to ramp up efforts to push into the metaverse — especially at a time when the metaverse is said to be headed to the industry's graveyard of failed ideas. However, it's also unwise to bet against Apple — a company whose epic feats in tech have earned its leaders cult-like status. It's quick, stylish, and high-tech, Insider's Tim Levin writes, but it falls short in range and cargo space.

Persons: Hallam Bullock, Tim Cook, Stephen Lam, Insider's Hasan Chowdhury, Apple, it's, Patrick O'Neill, Elizabeth Holmes, Lisa Lake, Theranos, Holmes, Read, Elon, Spriha Srivastava, Gray, Kia, Tim Levin, Kia's, Jack Sommers Organizations: Apple, Developers, Bloomberg, Apple —, Starco Brands, Forbes, Getty, Nvidia, Google, Challenger, Wireless, Amazon Prime Locations: London, Theranos, China, Shanghai

☆ Elon Musk disclosed a missed opportunity, said he hates firing people, and revealed a desire to meet Warren Buffett in a 2008 profile that's resurfaced
▼ + stars: | 2023-06-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk bemoaned a missed opportunity and said he wanted to meet Warren Buffett in a 2008 profile. The Tesla, SpaceX, and Twitter CEO said he hated firing people and struggled to move to Los Angeles. The Tesla, SpaceX, and Twitter CEO could have invested in SunPower at a $15 million valuation but didn't do so, he said. However, its stock price has basically flatlined over the past 15 years, meaning Musk hasn't missed out on much since his interview. The electric-vehicle and space-transportation pioneer also disclosed the people he was most interested in meeting at the time: Warren Buffett and Charlie Munger.

Persons: Elon, Warren Buffett, Musk, —, Elon Musk, hasn't, Charlie Munger, Berkshire Hathaway, he'd, Buffett Organizations: SpaceX, Twitter, Service, Privacy, San Francisco Business Times, Berkshire, Tesla Locations: Los Angeles, SunPower, Texas

☆ Musk's China visit ends with burgers for 100 Shanghai Tesla workers — and favor from Beijing as state-affiliated media showcases trip on Twitter
▼ + stars: | 2023-06-01 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Elon Musk's surprise trip to China ended with burgers and soft drinks for Tesla staff in Shanghai. His trip was showcased on Twitter by Chinese state media. Elon Musk completed his whistle-stop tour of China by treating workers at Tesla's Shanghai plant to burgers and soft drinks, with his visit being showcased on Twitter by China's state-affiliated media. A video published online by Tesla's China team, seen by Insider, showed Musk delivering a speech to a crowd of workers at his Shanghai plant. Elon Musk visited workers at Tesla's Shanghai gigafactory after first China trip in three years.

Persons: Elon Musk's, Elon Musk, Tesla's, China Grace Tao, Grace Tao, Weibo Musk, Jack Ma, Zeng Yuqun, Tesla, Musk Organizations: Twitter, Bloomberg, Tesla's, Global Times, Communist Party's, Shanghai gigafactory Locations: China, Shanghai, Tesla's China, Beijing

☆ Elon Musk told Chinese Tesla workers in a late night speech that their hard work 'warms my heart' — 6 weeks after some complained about bonus cuts
▼ + stars: | 2023-06-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

He told them their hard work "warms my heart" and is "very important" for the world. In a late night speech, Elon Musk told Tesla workers at the Shanghai Gigafactory that their hard work "warms my heart." "I just want to let you know, it warms my heart," Musk said, tapping his chest before a fist pump. Tesla workers then criticized Musk on Chinese social media, and some people even complained to his mom on Twitter. Musk told CNBC he sleeps around six hours a night, and according to Jimmy Soni's book "The Founders," Musk was "perpetually sleep-deprived" at his first startup, Zip2.

Persons: Elon Musk, It's, Musk, Shanghai Gigafactory, he's, Tesla, He's, Jimmy Soni's Organizations: Tesla's Shanghai Gigafactory, Shanghai, Global Times, Reuters, Twitter, San Francisco, CNBC, Bloomberg Locations: China, San José del Cabo, Mexico, Shanghai

☆ Musk tells Tesla staff he must approve all hiring- memo
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

According to the email, Musk told executives to send him a list of hiring requests on a weekly basis, while also cautioning them to "think carefully" before submitting such requests. "No one can join Tesla, even as a contractor, until you receive my email approval", Musk said in the email on Monday. Musk named former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO last week. He said on Friday that hiring Yaccarino would allow him to spend more time to run Tesla. The billionaire is expected to address Tesla shareholders on Tuesday at the automaker's annual meeting at its headquarters in Austin, Texas.

☆ Elon Musk just told Tesla staff he wants to personally approve all new hires. Here's a look into his management style at Twitter, Tesla, and SpaceX over the years.
▼ + stars: | 2023-05-16 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Elon Musk told Tesla staff in an email that he wants to personally sign off on all new hires. Here's a closer look at Musk's unconventional style of management and leadership at Twitter, Tesla, and SpaceX. Musk told Tesla staff in the memo that he wants to personally approve all new hires. But in 2018, current and former Tesla employees told CNBC that Musk's micromanagement cost the company time and money. The same year, Tesla employees told Insider that Musk could be demanding and unpredictable.

☆ Musk tells Tesla staff he must approve all hiring - the Information
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

Companies Tesla Inc FollowMay 15 (Reuters) - Tesla (TSLA.O) Chief Executive Elon Musk has said that the company can make no new hires unless he personally approves them, including contractors, the Information reported on Monday, citing an email to staff. According to the report, Musk told executives to send him a list of hiring requests on a weekly basis, while also cautioning them to "think carefully" before submitting such requests. Musk named former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO last week. He said on Friday that hiring Yaccarino would allow him to spend more time to run Tesla. The billionaire is expected to address Tesla shareholders on Tuesday at the automaker's annual meeting at its headquarters in Austin, Texas.

☆ Tesla CEO Elon Musk says he must approve all new hires in internal email
▼ + stars: | 2023-05-15 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

SpaceX, Twitter and electric car maker Tesla CEO Elon Musk meets with France's President Emmanuel Macron (L) at the Elysee presidential palace in Paris on May 15, 2023. Tesla CEO Elon Musk sent an email to "everybody" at his electric vehicle maker on Monday, expressing concern over the company's current hiring practices. "I would like to gain a better understanding of our hiring," Musk wrote in the email. "Think carefully before sending me a request," Musk wrote in Monday's email. Here's Monday's email from Musk:To: Everybody From: Elon Musk Subj.

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