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Tesla woes mount on new China reports, EV probe [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Tesla TSLA , which has shed more than $240 billion in market value this year, has been hammered by a slump in global EV demand, concerns about the impact of aggressive price cuts on profit margins, and reports of renewed regulatory pressure tied to its claims about its driver-assistance software. The stock reversed some of those declines late last month when Chief Executive Elon Musk won a key endorsement for the rollout of its driver-assistance technologies in China. However, the company has seen some of its issues resurface over the past week. Related: Single Best Trade: Wall Street veteran picks Palantir stock Bloomberg, in fact, reported on May 9 that Tesla is ramping up the pace of job cuts in China, its most important market, after the group disclosed a plan to reduce its global workforce by 10%, or around 14,000 jobs. Tesla's China challenges have intensified this year as domestic rivals like Nio NIO and BYD BYDDY continue to carve into its overall market share, and co
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