Austin, May 12: Elon Musk announced a $500 million plan for installing Supercharger stations amid Tesla layoffs. Tesla started cutting roles due to global competitor’s price wars and declining sales of its EVs. The layoffs at Tesla have already impacted thousands of people, who were informed that there are no alternative job opportunities at the company. Tesla’s $500 million plan aims for the company’s future and expansion.
The report by ET Now highlighted that Elon Musk recently laid off people from the Supercharger team, a move that sparked concern about Tesla’s largest network of 50,000 fast chargers. However, the Elon Musk-run company quickly reassured the public by announcing a $500 million investment for the installation of Supercharger stations in 2024, a move that is expected to significantly boost the EV industry. Elon Musk Says Something ‘Super Weird’ Going On As Nearly 800 Far-Left Extremists Storm Tesla’s Gigafactory in Berlin To Protest Against Expansion Plans; Here’s What Happened.
Elon Musk $500 Plan For Supercharger Network Expansion After Tesla Layoffs:
Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year.
That’s just on new sites and expansions, not counting operations costs, which are much higher.
— Elon Musk (@elonmusk) May 10, 2024
According to the report, Tesla CEO Elon Musk announced his investment decision in a post on X. He said that Tesla would spend more than $500 million to expand the Supercharger networks. The post further said it would create thousands of new chargers yearly. In his official post on X, Elon Musk said, “That’s just on new sites and expansions, not counting operations costs, which are much higher.”
The report mentioned that Tesla chargers could replenish the range of electric vehicles to 320 kilometres within 15 minutes. This impressive charging speed, coupled with Tesla’s largest and well-established network of Superchargers, has been a major factor in reassuring its customers. Last year, several EV makers partnered with Elon Musk’s Tesla to use its fast-charging network in the US and Canada, a testament to the reliability and efficiency of Tesla’s services. Tesla To Invest Over USD 500 Million on Supercharger Network Expansion in 2024.
As per the report, Tesla implemented layoffs in the Supercharger department following the 55% decline in quarterly earnings, which amounted to $1.1 billion. ET Now said that it affected the overall Tesla EV sales during that period, leading to a decrease.
(The above story first appeared on LatestLY on May 12, 2024 01:41 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
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