The article discusses Tesla’s challenging year, marked by layoffs, Elon Musk’s controversial behavior, and the company’s efforts to maintain its dominance in the electric vehicle (EV) market. Key points include: Tesla’s stock price plummeted, leading to layoffs and cost-cutting measures. Musk’s acquisition of Twitter and his erratic behavior on the platform raised concerns among investors. Tesla faced increasing competition from legacy automakers and startups in the EV space. The company missed its delivery targets and struggled with production issues. Musk’s promises of a robotaxi service by 2024 were met with skepticism from Wall Street analysts. The article highlights Tesla’s need to regain investor confidence, streamline operations, and maintain its technological edge to stay ahead in the rapidly evolving EV market.
Source: https://www.businessinsider.com/tesla-bad-year-layoffs-elon-musk-evs-wall-street-robotaxis-2024-4