Musk says Tesla charger network will grow, days after layoffs

admin admin | 05-12 00:20

The reported layoffs came shortly after Tesla reported a 55% drop in quarterly earnings to USD 1.1 billion, reflecting the decline in EV sales.
Tesla boss Elon Musk said Friday the electric vehicle manufacturer would invest over USD 500 million this year to install new superchargers, just days after a report of massive layoffs in this branch of the company.

"Just to reiterate: Tesla will spend well over USD 500M expanding our Supercharger network to create thousands of NEW chargers this year," Elon said on X.

"That's just on new sites and expansions, not counting operations costs, which are much higher," he added.

According to tech news outlet The Information on Monday, Tesla was moving to disband its supercharger department, laying off most of its 500 workers as well as its senior director.

The revelation raised questions about the future development of Tesla's network of over 50,000 fast chargers -- the most extensive in the world, according to Tesla -- which can add 200 miles (320 kilometers) of range in a quarter of an hour.

The fear of insufficient charging infrastructure is one of the reasons why sales of electric vehicles are progressing less rapidly than expected in the US and Tesla's well-developed network was seen as key to reassuring customers.

In the spring of 2023, several competitors -- Ford, General Motors, Rivian -- entered into partnerships with Tesla so that their vehicles could use its fast-charging network in Canada and the United States.

A few weeks later, seven automakers -- BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, Stellantis -- announced the creation of a joint venture to install, from this summer, at least 30,000 fast chargers in North America, accessible to all electric vehicles.

The reported layoffs came shortly after Tesla reported a 55% drop in quarterly earnings to USD 1.1 billion, reflecting the decline in EV sales.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Hyundai Motor India lists with record IPO, commits to Indian market with new tech and EV plans

As part of its effort to introduce clean mobility solutions for Indian buyers, Hyundai will launch f...

auto | 5 hours ago

Skoda Auto Volkswagen India plants over 7 lakh trees in Maharashtra for ecological restoration

Additionally, SAVWIPL has installed 18.5 MWp of rooftop solar power at its Chakan facility, which of...

auto | 5 hours ago

Mega Corporation launches Lendingo to enhance EV financing solutions

Mega Corporation on Monday announced the launch of a new division, Lendingo. Mega Corporation on Mon...

auto | 5 hours ago

GreenLine accelerates decarbonisation efforts with 1,000 LNG trucks by March 2025

The government in a recent draft policy proposed to convert a third of long-haul trucks into LNG pow...

auto | 5 hours ago

Remsons Industries acquires 51% stake in BEE Lighting to enhance automotive lighting solutions

Established in 2006, BEE Lighting specialises in automotive headlamps, rear lamps, and various exter...

auto | 5 hours ago

EV Recharge partners with ZEVO for mobile EV charging solutions

EV Recharge’s technology can charge vehicles from 0% to 80% in just 20 minutes, a significant improv...

auto | 5 hours ago