Summary
- Tesla has laid off over 14,000 employees, but the hardest hit was the supercharging network development and deployment team, which had every employee out the door last week
- Tesla’s big push into the DC Fast Charging (DCFC, or Supercharging) network was one of the biggest initiatives that helped EV sales skyrocket over the last decade
- Tesla owns roughly 62% of all of the charging infrastructure across the USA
- Of the other 38%, multiple companies now have a huge opportunity to expand and build up in big EV markets, including Texas and New York City
- We think that Tesla decimating its own charging department opens the door for another company, maybe even an automaker like the VW Group, to take up the mantle of DCFC station deployment and development
A couple of weeks ago, we reported that Tesla was going to cut its workforce by 10%, affecting over 14,000 employees. Now that we’re into May 2024, it has come to light that one of the departments hardest hit by the layoffs was their charging network development and deployment team.
The layoffs have effectively decimated the entire department, according to AP News, with the department of about 500 employees all being laid off. While the department still exists in name only, no one is actually working there anymore. This raises one very important questions that begs investigation and analysis:
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