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Tesla's Layoffs Won't Solve Its Growing Pains
The car company popularized EVs. Now, facing intense competition from China, it has to figure out what to do next.
Tesla is facing unprecedented challenges around the world, ranging from slowing demand, to increasing competition from its Chinese competitors, ongoing worker strikes in Sweden, and even sabotage by German climate activists. This shift, initially outlined in his 2016 “ Master Plan, Part Deux, ” will help galvanize Tesla’s image as the “innovative EV company,” says Helena Wisbert, director of the CAR Center for Automotive Research in Germany. Shareholders will get a chance to give their blessing at a vote in June, when they will be asked to ratify Musk’s$50 billion pay package and approve the company’s move to Texas.
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