Tesla boss Elon Musk wants to cut more than one in ten jobs in the company. Tesla said it had 140,473 employees at the end of last year.
This means that more than 14,000 jobs are now at risk. Tesla is feeling the effects of the tough price war in China, the largest car market. In the first quarter it delivered surprisingly fewer vehicles worldwide than a year earlier, with almost 387,000 cars. The company is still the world's highest valued car company, ahead of the Japanese Toyota with 61.5 trillion yen (375 billion euros) The German car manufacturers Volkswagen, BMW, Mercedes-Benz and Porsche AG are lagging far behind with a market capitalization of between 69 and 85 billion euros. The stock has lost over 40 percent since a high last summer of almost $300. The paper is even further away from the record highs of over $400 in autumn 2021. It is not yet known how many jobs will be affected by the cuts in Grünheide near Berlin.