Motilal Oswal
    NIFTY 50
Motilal Oswal

Tesla cuts jobs as it looks to make Model 3 more affordable

Updated : January 21, 2019 07:07 AM IST

The company, which has struggled to achieve long-term profitability and keep a tight lid on expenses, also said it expects fourth-quarter profit to be lower than the preceding quarter.
Chief Executive Officer Elon Musk said the need for lower-priced versions of Model 3 will become even greater from July, when the US tax credit again drops in half, adding $1,875 to the car's price tag.
The company reported a profit of $311.5 million, or $1.75 per share, for the third quarter ended September 30, which Musk called Tesla's "first meaningful profit" since the company started.
Tesla cuts jobs as it looks to make Model 3 more affordable
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV