[cnet] Tesla to slash 7 percent of its workforce, CEO Elon Musk says

LexRank Summarization

• He highlighted the company's 4 percent third-quarter profit and said Tesla expects a smaller one for the fourth quarter, pointing to the higher-priced Model 3 variants in the US market as the cause.


• Musk wants to get the Model 3 to every market around May "to reach more customers who can afford our vehicles" -- a target the company's hinted at previously.


• Earlier this month, the company broke ground on a Tesla Gigafactory in Shanghai where it plans to produce "affordable versions" of the Model 3 and Model Y for the Chinese market.

TextRank Summarization

• Musk wants to get the Model 3 to every market around May "to reach more customers who can afford our vehicles" -- a target the company's hinted at previously.


• He noted that its vehicles will get even more expensive when the US tax credit on EVs is halved on July 1 and eliminated at the end of 2019.


• Earlier this month, the company broke ground on a Tesla Gigafactory in Shanghai where it plans to produce "affordable versions" of the Model 3 and Model Y for the Chinese market.

Ref: https://www.cnet.com/roadshow/news/elon-musk-says-tesla-must-slash-7-percent-of-its-workforce/#ftag=CAD590a51e