Elon Musk, the billionaire CEO of Tesla, has said that artificial intelligence (AI) will eventually eliminate all jobs. However, he affirmed that this is not necessarily an adverse development.&nbsp;

Speaking at a startup and tech event in Paris on Thursday (May 23) via video link, Musk said, "Probably none of us will have a job", while predicting a future where jobs would be “optional”.&nbsp;

"If you want to do a job that's kinda like a hobby, you can do a job," &nbsp;Musk told VivaTech 2024. "But otherwise, AI and the robots will provide any goods and services that you want."&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/worlds-biggest-tech-companies-pledge-responsible-development-of-ai-724298">World’s biggest tech companies pledge ‘responsible’ development of AI</a>&nbsp;

During his keynote address, Musk highlighted that for this scenario to succeed, there would need to be a "universal high income," which should not be confused with universal basic income. However, he did not share what that could look like. &nbsp;

The Universal basic income (UBI) refers to the government providing a certain amount of money to everyone, regardless of their earnings.&nbsp;

"There would be no shortage of goods or services," Musk stated, but wondered if people would feel emotionally fulfilled in a job-free future.&nbsp;

He underlined that AI capabilities have advanced rapidly over the past few years, so briskly that regulators, companies, and users are still figuring out how to utilise the technology responsibly.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/technology/apple-launches-ios-update-to-prevent-reappearance-of-deleted-photos-724277">Apple launches iOS update to prevent reappearance of deleted photos</a>&nbsp;

During his speech on Thursday, he described the technology as his "biggest fear". &nbsp;

He also cited the "Culture Book Series" by Ian Banks, a utopian fictionalised depiction of a society run by advanced technology, as the most realistic and "the best envisioning of a future AI."&nbsp;

"The question will really be one of meaning - if the computer and robots can do everything better than you, does your life have meaning?" Musk said.&nbsp;

He added, "I do think there's perhaps still a role for humans in this - in that we may give AI meaning."&nbsp;

Watch:&nbsp;Quiet vacationing: Latest workplace trend of 2024&nbsp;

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Concerns continue to mount over how various industries and jobs will change as AI proliferates in the market.&nbsp;

In January, researchers at MIT's Computer Science and Artificial Intelligence Lab found that workplaces are adopting AI more slowly than some had expected and feared. &nbsp;

The report also noted that the lion’s share of jobs previously identified as vulnerable to AI were not economically beneficial for employers to automate at that time.&nbsp;

Experts largely believe that many jobs requiring high emotional intelligence and human interaction, such as mental health professionals, creatives, and teachers, will not need replacing.&nbsp;

(With inputs from agencies)&nbsp;

Elon Musk, the billionaire CEO of Tesla, has said that artificial intelligence (AI) will eventually eliminate all jobs. However, he affirmed that this is not necessarily an adverse development.

Elon Musk, the billionaire CEO of Tesla, has said that artificial intelligence (AI) will eventually eliminate all jobs. However, he affirmed that this is not necessarily an adverse development. Speaking at a startup and tech event in Paris on Thursday (May 23) via video link, Musk said, "Probably none of us will have a job", while predicting a future where jobs would be “optional”. "If you want to do a job that's kinda like a hobby, you can do a job," Musk told VivaTech 2024. "But otherwise, AI and the robots will provide any goods and services that you want." Also read: World’s biggest tech companies pledge ‘responsible’ development of AI During his keynote address, Musk highlighted that for this scenario to succeed, there would need to be a "universal high income," which should not be confused with universal basic income. However, he did not share what that could look like. The Universal basic income (UBI) refers to the government providing a certain amount of money to everyone, regardless of their earnings. "There would be no shortage of goods or services," Musk stated, but wondered if people would feel emotionally fulfilled in a job-free future. He underlined that AI capabilities have advanced rapidly over the past few years, so briskly that regulators, companies, and users are still figuring out how to utilise the technology responsibly. Also read: Apple launches iOS update to prevent reappearance of deleted photos During his speech on Thursday, he described the technology as his "biggest fear". He also cited the "Culture Book Series" by Ian Banks, a utopian fictionalised depiction of a society run by advanced technology, as the most realistic and "the best envisioning of a future AI." "The question will really be one of meaning - if the computer and robots can do everything better than you, does your life have meaning?" Musk said. He added, "I do think there's perhaps still a role for humans in this - in that we may give AI meaning." Watch: Quiet vacationing: Latest workplace trend of 2024 × Concerns continue to mount over how various industries and jobs will change as AI proliferates in the market. In January, researchers at MIT's Computer Science and Artificial Intelligence Lab found that workplaces are adopting AI more slowly than some had expected and feared. The report also noted that the lion’s share of jobs previously identified as vulnerable to AI were not economically beneficial for employers to automate at that time. Experts largely believe that many jobs requiring high emotional intelligence and human interaction, such as mental health professionals, creatives, and teachers, will not need replacing. (With inputs from agencies)

Elon Musk says AI will eliminate all jobs, calls it his ‘biggest fear’

Electric vehicle giant Tesla is taking proactive measures to safeguard its supply chain by urging suppliers to establish production facilities outside of China and Taiwan. This strategic move comes in response to the growing geopolitical tensions in the region, which pose potential risks to the company's operations.

According to multiple sources with direct knowledge of the matter, Tesla has requested that suppliers producing components such as printed circuit boards, displays, and electronic control unit systems for its non-China market models shift their manufacturing to locations beyond China and Taiwan. The American EV maker cited mounting geopolitical risks in the Greater China region, particularly in light of the upcoming U.S. presidential election, as the driving force behind this request.

The primary objective is to develop alternative supply sources for markets outside of China, thereby mitigating the potential for supply chain disruptions. One Taiwan-based supplier revealed that Tesla aims to have components manufactured "out of China and out of Taiwan" (OOC and OOT) starting from next year's new projects.

Tesla's efforts extend beyond its Taiwanese suppliers, as the company has engaged in discussions with manufacturers in Japan, South Korea, and other Asian countries. Executives from Japanese electronics makers have confirmed their involvement in these conversations.

Suppliers are already taking action to comply with Tesla's directive. One component supplier is ramping up production capacity in Thailand to meet the demand for components manufactured outside of China and Taiwan. Another executive highlighted the adoption of the "China+1 strategy," which involves avoiding Taiwan alongside China in the supply chain.

While Tesla appears to be the most proactive in mitigating risks associated with China and Taiwan, other American automakers, such as General Motors and Ford, have also explored the possibility of relocating electronics production away from these regions. However, unlike Tesla, they have not yet issued formal requests to their suppliers.

The urgency behind Tesla's requests stems from the escalating tensions between Beijing and Taipei, exacerbated by factors such as Washington's export controls on advanced technologies to China and Taiwan's hosting of a visit by former U.S. House Speaker Nancy Pelosi in 2022. Chinese President Xi Jinping has intensified pressure on the island through repeated military drills and frequent flights over the Taiwan Strait.

Moreover, Tesla faces increasing competition from Chinese EV manufacturers like BYD, which claimed a 15% share of the global battery electric vehicle (BEV) market in the first quarter of 2024, surpassing Tesla's 19% share. This competition has prompted Tesla to explore parallel supply chains while maintaining a presence in China, as evidenced by CEO Elon Musk's recent visit to secure approval for the company's advanced driver-assist software.

The tech-heavy nature of EVs has put their supply chains at the centre of the U.S.- China technology rivalry. With China and Taiwan producing the bulk of vital electronics components, analysts suggest that it is logical for automakers like Tesla to request production capacity outside of these regions to prevent potential disruptions.

Electric vehicle giant Tesla is taking proactive measures to safeguard its supply chain by urging suppliers to establish production facilities outside of China and Taiwan.

Electric vehicle giant Tesla is taking proactive measures to safeguard its supply chain by urging suppliers to establish production facilities outside of China and Taiwan. This strategic move comes in response to the growing geopolitical tensions in the region, which pose potential risks to the company's operations. According to multiple sources with direct knowledge of the matter, Tesla has requested that suppliers producing components such as printed circuit boards, displays, and electronic control unit systems for its non-China market models shift their manufacturing to locations beyond China and Taiwan. The American EV maker cited mounting geopolitical risks in the Greater China region, particularly in light of the upcoming U.S. presidential election, as the driving force behind this request. The primary objective is to develop alternative supply sources for markets outside of China, thereby mitigating the potential for supply chain disruptions. One Taiwan-based supplier revealed that Tesla aims to have components manufactured "out of China and out of Taiwan" (OOC and OOT) starting from next year's new projects. Tesla's efforts extend beyond its Taiwanese suppliers, as the company has engaged in discussions with manufacturers in Japan, South Korea, and other Asian countries. Executives from Japanese electronics makers have confirmed their involvement in these conversations. Suppliers are already taking action to comply with Tesla's directive. One component supplier is ramping up production capacity in Thailand to meet the demand for components manufactured outside of China and Taiwan. Another executive highlighted the adoption of the "China+1 strategy," which involves avoiding Taiwan alongside China in the supply chain. While Tesla appears to be the most proactive in mitigating risks associated with China and Taiwan, other American automakers, such as General Motors and Ford, have also explored the possibility of relocating electronics production away from these regions. However, unlike Tesla, they have not yet issued formal requests to their suppliers. The urgency behind Tesla's requests stems from the escalating tensions between Beijing and Taipei, exacerbated by factors such as Washington's export controls on advanced technologies to China and Taiwan's hosting of a visit by former U.S. House Speaker Nancy Pelosi in 2022. Chinese President Xi Jinping has intensified pressure on the island through repeated military drills and frequent flights over the Taiwan Strait. Moreover, Tesla faces increasing competition from Chinese EV manufacturers like BYD, which claimed a 15% share of the global battery electric vehicle (BEV) market in the first quarter of 2024, surpassing Tesla's 19% share. This competition has prompted Tesla to explore parallel supply chains while maintaining a presence in China, as evidenced by CEO Elon Musk's recent visit to secure approval for the company's advanced driver-assist software. The tech-heavy nature of EVs has put their supply chains at the centre of the U.S.- China technology rivalry. With China and Taiwan producing the bulk of vital electronics components, analysts suggest that it is logical for automakers like Tesla to request production capacity outside of these regions to prevent potential disruptions.

Tesla looks past China, Taiwan for parts supply

A group of Tesla shareholders is urging investors to vote against a $40 billion compensation package for CEO Elon Musk, claiming it is not in the company's best interest.

Tesla shareholders oppose Musk’s pay

Less than a month ago, Neuralink announced that its brain-computer interface had been approved for human testing. However, Reuters has now reported that the U.S. Food and Drug Administration (FDA) discovered that the company had failed to keep records of animal experiments. The FDA also said that there were some issues with quality control. Investigators found quality control lapses at Neuralink’s animal research facilities in California. However, similar inspections of facilities in Texas found no problems.

US FDA clears Neuralink's brain chip implant in second patient, says report

Elon Musk, CEO of SpaceX and Tesla, and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX's Starlink satellite internet service on Sunday, intending to improve healthcare access in rural areas of the vast Indonesian archipelago.

Musk, who landed on the Indonesian resort island of Bali by private aircraft, attended the inauguration event at a community health centre in Denpasar, the province's capital. Musk, dressed in a green batik shirt, highlighted that Starlink would greatly improve internet connectivity for millions across Indonesia's more than 17,000 islands and three time zones.

"I'm very excited to bring connectivity to places that have low connectivity," Musk stated. "If you have access to the internet, you can learn anything."

On Sunday, the Starlink service was launched in three Indonesian health centres, two in Bali and one on the remote Maluku Island of Aru. A video presentation illustrated how high-speed internet may allow for real-time data input, assisting in the management of health conditions including stunting and malnutrition.

When asked about possible investments in Indonesia's electric vehicle business, Musk highlighted his current emphasis on Starlink. "We are focusing this event on Starlink and the benefits that connectivity brings to remote islands," he explained. "I think it's really to emphasise the importance of internet connectivity, how much of that can be a lifesaver."

Indonesia, which has over 270 million people, has been pursuing Musk's Tesla to help build its electric vehicle sector by utilising the country's enormous nickel resources. Musk is set to meet President Joko Widodo today&nbsp;and speak at the World Water Forum in Bali.

At the Bali inauguration, Communications Minister Budi Arie Setiadi revealed that Starlink is now commercially available, with a focus on outer and underdeveloped districts. Before the launch, Starlink was awarded a permit to operate as a retail internet service provider as well as a very small aperture terminal (VSAT) permit, according to Setiadi.

SpaceX's Starlink dominates the satellite internet business, with over 60 per cent of the 7,500 spacecraft orbiting Earth. Indonesia is the third Southeast Asian country that Starlink operates, after Malaysia and the Philippines. Malaysia licensed the service this year, while a Philippine company signed an agreement with SpaceX in 2022.

Starlink's global network includes a strong presence in Ukraine, where it serves military, healthcare, business, and humanitarian operations.

(With inputs from Reuters)

Elon Musk, CEO of SpaceX and Tesla, and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX's Starlink satellite internet service on Sunday, intending to improve healthcare access in rural areas of the vast Indonesian archipelago.

Elon Musk, CEO of SpaceX and Tesla, and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX's Starlink satellite internet service on Sunday, intending to improve healthcare access in rural areas of the vast Indonesian archipelago. Musk, who landed on the Indonesian resort island of Bali by private aircraft, attended the inauguration event at a community health centre in Denpasar, the province's capital. Musk, dressed in a green batik shirt, highlighted that Starlink would greatly improve internet connectivity for millions across Indonesia's more than 17,000 islands and three time zones. "I'm very excited to bring connectivity to places that have low connectivity," Musk stated. "If you have access to the internet, you can learn anything." On Sunday, the Starlink service was launched in three Indonesian health centres, two in Bali and one on the remote Maluku Island of Aru. A video presentation illustrated how high-speed internet may allow for real-time data input, assisting in the management of health conditions including stunting and malnutrition. When asked about possible investments in Indonesia's electric vehicle business, Musk highlighted his current emphasis on Starlink. "We are focusing this event on Starlink and the benefits that connectivity brings to remote islands," he explained. "I think it's really to emphasise the importance of internet connectivity, how much of that can be a lifesaver." Indonesia, which has over 270 million people, has been pursuing Musk's Tesla to help build its electric vehicle sector by utilising the country's enormous nickel resources. Musk is set to meet President Joko Widodo today and speak at the World Water Forum in Bali. At the Bali inauguration, Communications Minister Budi Arie Setiadi revealed that Starlink is now commercially available, with a focus on outer and underdeveloped districts. Before the launch, Starlink was awarded a permit to operate as a retail internet service provider as well as a very small aperture terminal (VSAT) permit, according to Setiadi. SpaceX's Starlink dominates the satellite internet business, with over 60 per cent of the 7,500 spacecraft orbiting Earth. Indonesia is the third Southeast Asian country that Starlink operates, after Malaysia and the Philippines. Malaysia licensed the service this year, while a Philippine company signed an agreement with SpaceX in 2022. Starlink's global network includes a strong presence in Ukraine, where it serves military, healthcare, business, and humanitarian operations. (With inputs from Reuters)

Elon Musk and Indonesian Health Minister launch SpaceX's Starlink Internet for remote health access

The Hong Kong Securities and Futures Commission (SFC) has recently issued a severe warning about a deepfake scam involving Elon Musk, aimed at promoting a fraudulent cryptocurrency trading platform called "Quantum AI". Based on a South China Morning Post Report, this incident highlights a growing trend in AI-related fraud, particularly within Asia.<o:p></o:p>

Quantum AI scam and regulatory response<o:p></o:p>

On May 8, the SFC alerted the public to the scam, which uses manipulated videos of Elon Musk to attract investors with promises of unrealistic returns. The regulator urged the Hong Kong Police Force to block access to related websites and social media pages. As of this week, these sites and Facebook groups have been taken down.<o:p></o:p>

Increase in deepfake fraud<o:p></o:p>

Incidents involving deepfake technology have surged dramatically. In the Asia-Pacific region, deepfake-related fraud increased by an alarming 1,530 per cent last year, with Vietnam and Japan experiencing the highest number of attacks, according to a report by identity verification platform Sumsub.Penny Chai, Sumsub’s Vice-President of Business Development in APAC, noted that the high volume of digital financial transactions in emerging markets like Asia makes the region a lucrative target for deepfake scammers.<o:p></o:p>

Details of the scam<o:p></o:p>

The Quantum AI scam has been around for at least a year, recycling various iterations to target different groups. One video, debunked by PolitiFact, falsely depicted Musk and Jack Ma promoting the platform, using footage from the 2019 World AI Conference in Shanghai. Another video altered Musk’s appearance on Tucker Carlson’s Fox News show to endorse the scam.<o:p></o:p>

Technological exploits and financial impact<o:p></o:p>

Scammers use inexpensive hosting providers and flexible technologies like WordPress to create convincing websites. One prominent site requires a minimum deposit of $250 and advises users to invest only what they are prepared to lose completely.<o:p></o:p>

Hong Kong has been identified as one of the top five markets in Asia for identity fraud, with a rate of 3.3 per cent last year. The rate of fintech fraud in Hong Kong increased by 216 per cent in the first quarter of this year compared to the same period last year, reflecting a rapid escalation in fraudulent activities.<o:p></o:p>

High-profile deepfake incidents<o:p></o:p>

Deepfake technology has already led to significant financial losses. In 2020, a Japanese bank manager was deceived by a fake audio mimicking his director’s voice, resulting in a $35 million transfer. Similarly, a multinational company lost $25.6 million through a deepfake video call that impersonated its chief financial officer.<o:p></o:p>

Ongoing efforts and additional warnings<o:p></o:p>

The SFC has been vigilant in flagging crypto-related scams, with 18 of the 29 warnings about suspicious virtual asset trading platforms issued this year alone. The JPEX scandal last September, involving a loss of approximately HK$1.5 billion ($192 million), remains one of the largest financial frauds in Hong Kong’s history.<o:p></o:p>

Recently, the SFC also warned against an investment product called LENA Network, which involves cryptocurrency staking, borrowing, and lending. The regulator cautioned that staking arrangements might constitute unauthorised collective investment schemes and pose high risks.<o:p></o:p>

<o:p>&nbsp;</o:p>

The Hong Kong Securities and Futures Commission (SFC) has recently issued a severe warning about a deepfake scam involving Elon Musk, aimed at promoting a fraudulent cryptocurrency trading platform called "Quantum AI".

The Hong Kong Securities and Futures Commission (SFC) has recently issued a severe warning about a deepfake scam involving Elon Musk, aimed at promoting a fraudulent cryptocurrency trading platform called "Quantum AI". Based on a South China Morning Post Report, this incident highlights a growing trend in AI-related fraud, particularly within Asia. Quantum AI scam and regulatory response On May 8, the SFC alerted the public to the scam, which uses manipulated videos of Elon Musk to attract investors with promises of unrealistic returns. The regulator urged the Hong Kong Police Force to block access to related websites and social media pages. As of this week, these sites and Facebook groups have been taken down. Increase in deepfake fraud Incidents involving deepfake technology have surged dramatically. In the Asia-Pacific region, deepfake-related fraud increased by an alarming 1,530 per cent last year, with Vietnam and Japan experiencing the highest number of attacks, according to a report by identity verification platform Sumsub.Penny Chai, Sumsub’s Vice-President of Business Development in APAC, noted that the high volume of digital financial transactions in emerging markets like Asia makes the region a lucrative target for deepfake scammers. Details of the scam The Quantum AI scam has been around for at least a year, recycling various iterations to target different groups. One video, debunked by PolitiFact, falsely depicted Musk and Jack Ma promoting the platform, using footage from the 2019 World AI Conference in Shanghai. Another video altered Musk’s appearance on Tucker Carlson’s Fox News show to endorse the scam. Technological exploits and financial impact Scammers use inexpensive hosting providers and flexible technologies like WordPress to create convincing websites. One prominent site requires a minimum deposit of $250 and advises users to invest only what they are prepared to lose completely. Hong Kong has been identified as one of the top five markets in Asia for identity fraud, with a rate of 3.3 per cent last year. The rate of fintech fraud in Hong Kong increased by 216 per cent in the first quarter of this year compared to the same period last year, reflecting a rapid escalation in fraudulent activities. High-profile deepfake incidents Deepfake technology has already led to significant financial losses. In 2020, a Japanese bank manager was deceived by a fake audio mimicking his director’s voice, resulting in a $35 million transfer. Similarly, a multinational company lost $25.6 million through a deepfake video call that impersonated its chief financial officer. Ongoing efforts and additional warnings The SFC has been vigilant in flagging crypto-related scams, with 18 of the 29 warnings about suspicious virtual asset trading platforms issued this year alone. The JPEX scandal last September, involving a loss of approximately HK$1.5 billion ($192 million), remains one of the largest financial frauds in Hong Kong’s history. Recently, the SFC also warned against an investment product called LENA Network, which involves cryptocurrency staking, borrowing, and lending. The regulator cautioned that staking arrangements might constitute unauthorised collective investment schemes and pose high risks.

Deepfake crypto scam using Elon Musk underlines the rising AI fraud in Hong Kong

Hong Kong Securities and Futures Commission (SFC) warned of a scam using deepfakes of Elon Musk touting a cryptocurrency trading platform called "Quantum AI". Watch in for more details!

Hong Kong-based fraud crypto exchange uses deepfakes of Elon Musk

Billionaire Elon Musk would be visiting Indonesia to launch SpaceX's satellite unit Starlink on Sunday, the news agency Reuters reported on Thursday (May 16), citing two cabinet ministers.

Billionaire Elon Musk would be visiting Indonesia to launch SpaceX's satellite unit Starlink on Sunday, the news agency Reuters reported on Thursday (May 16), citing two cabinet ministers. One of the ministers Luhut Pandjaitan told Reuters that Musk would launch Starlink in Bali in the presence of Indonesian President Joko Widodo. This would be Musk's first in-person visit to the Asian country. Communications Minister Budi Arie Setiadi told the news agency that the Starlink launch would be held at a clinic in Bali's capital Denpasar, where Musk was scheduled to sign an agreement on connectivity for the health sector. Also read | Elon Musk’s Starlink satellites disrupted by major solar storm Musk would also be addressing the World Water Forum in Bali. Starlink expected to provide services in remote areas Earlier in May, Starlink secured a permit to commercially offer its internet services in Indonesia. Starlink will cooperate with local network access providers and Indonesia expects the firm to provide internet services to its remote areas. Also watch | Elon Musk reacts to equal representation act bill, says 'going to be even more crazy' × Starlink is the world's first and largest satellite constellation using a low Earth orbit to deliver broadband internet capable of supporting streaming, online gaming, video calls and more. "Leveraging advanced satellites and user hardware coupled with our deep experience with both spacecraft and on-orbit operations, Starlink delivers high-speed, low-latency internet to users all over the world," SpaceX's website states. How many countries currently use Starlink Currently, Starlink is available in France, Germany, Ireland, the Netherlands, Austria, Belgium, Denmark, Portugal, the United Kingdom (UK), Canada, the United States (US), Australia, New Zealand, Japan, Malaysia, the Philippines, Brazil, and Chile. SpaceX states that each satellite features a compact, flat-panel design that minimises volume, allowing for a dense launch stack to take full advantage of the launch capabilities of the Falcon 9 rocket. (With inputs from agencies)

Elon Musk to launch Starlink satellite in Indonesia on Sunday

Amidst decreasing sales and an intensifying price war, Tesla revealed its plan to lay off another 601 employees in California in a notice to the state government. The job cuts began a month ago and the automaker is on a roll to cut costs.

On April 15, Tesla CEO Elon Musk announced that the carmaker would cut “more than 10 per cent” of its total workforce, more than 14,000 jobs, in order to be “lean, innovative and hungry”.

According to sources familiar with the matter, since Musk wanted to slash 20% of its headcount, the electric vehicle maker has since then, conducted several rounds of job cuts.

The urgency of the shift was highlighted by Tesla reporting a decline of almost 10 per cent in revenues in the first quarter of this year, its first year-on-year quarterly drop since the start of 2020. The share price has more than halved from its November 2021 peak of just under USD 410 a share.

The latest round of layoffs would have a direct impact on employees at Tesla’s facilities in Palo Alto and Fremont, California. According to the Worker Adjustment and Retraining Notification (WARN), Tesla said that the layoffs would be implemented during the 14-day period beginning June 20, 2024.

Last month, the electric car maker said that it would lay off 6,020 people in California and Texas, as part of the headcount cuts. The industry-wide job reduction also included 285 employees at its Buffalo, New York facilities that consisted of the labelling team for its Autopilot driver assistance software and the ones that make fast-charging equipment.&nbsp;

Musk disbanded Tesla's Supercharger team on April 30.&nbsp;

Tesla’s supercharger system is among the largest charging networks in the world and was one the reasons the company enjoyed such a commanding lead over rival carmakers for so long. &nbsp;

He has shut down the division that runs Tesla’s Supercharger business, dismissed two senior executives Rebecca Tinucci, and Daniel Ho and fired hundreds more staff as the electric car maker continues its restructuring amid a sharp downturn in the EV market. 
&nbsp;

Amidst decreasing sales and an intensifying price war, Tesla revealed its plan to lay off another 601 employees in California in a notice to the state government.

Amidst decreasing sales and an intensifying price war, Tesla revealed its plan to lay off another 601 employees in California in a notice to the state government. The job cuts began a month ago and the automaker is on a roll to cut costs. On April 15, Tesla CEO Elon Musk announced that the carmaker would cut “more than 10 per cent” of its total workforce, more than 14,000 jobs, in order to be “lean, innovative and hungry”. According to sources familiar with the matter, since Musk wanted to slash 20% of its headcount, the electric vehicle maker has since then, conducted several rounds of job cuts. The urgency of the shift was highlighted by Tesla reporting a decline of almost 10 per cent in revenues in the first quarter of this year, its first year-on-year quarterly drop since the start of 2020. The share price has more than halved from its November 2021 peak of just under USD 410 a share. The latest round of layoffs would have a direct impact on employees at Tesla’s facilities in Palo Alto and Fremont, California. According to the Worker Adjustment and Retraining Notification (WARN), Tesla said that the layoffs would be implemented during the 14-day period beginning June 20, 2024. Last month, the electric car maker said that it would lay off 6,020 people in California and Texas, as part of the headcount cuts. The industry-wide job reduction also included 285 employees at its Buffalo, New York facilities that consisted of the labelling team for its Autopilot driver assistance software and the ones that make fast-charging equipment. Musk disbanded Tesla's Supercharger team on April 30. Tesla’s supercharger system is among the largest charging networks in the world and was one the reasons the company enjoyed such a commanding lead over rival carmakers for so long. He has shut down the division that runs Tesla’s Supercharger business, dismissed two senior executives Rebecca Tinucci, and Daniel Ho and fired hundreds more staff as the electric car maker continues its restructuring amid a sharp downturn in the EV market.

Tesla to cut around 600 more jobs in California

In a legal battle with global implications, Elon Musk's social media platform X has won a temporary reprieve in Australia. The Australian government requested the removal of violent footage from a Sydney stabbing attack. X initially complied for Australian viewers but refused to remove it globally, sparking a free speech debate.

Court rejects Australian request to censor social media content on X

Elon Musk-owned X won a legal battle against the Australian online watchdog over imposing a global ban on dozens of videos shared of the church stabbing incident which have been shared and circulated on the social media platform.

Elon Musk-owned X won a legal battle against the Australian online watchdog over imposing a global ban on dozens of videos shared of the church stabbing incident which have been shared and circulated on the social media platform. The Australian online watchdog eSafety Commission had last month won a temporary court injunction after X had refused to abide by the regulator's orders to take down the videos. However, the legal block on the Sydney church stabbing videos was overturned by the Federal Court on Monday (May 13). Federal Court Justice Geoffrey Kennett denied an extension to the temporary order of removal of videos showing the stabbing of a priest in Sydney in April. Also Read: Australian watchdog seeks removal of stabbing video from X worldwide "The orders of the court will be that the application to extend the interlocutory injunction... is refused," said Kennett, without stating any reasons for his decision. X agreed to remove videos in Australia but failed to abide by the demand for worldwide removal Australia's eSafety Commissioner said that he wants the company, owned by Elon Musk, to remove 65 video and audio clips in Australia as well as worldwide. After the injunction, X had to hide nearly 65 posts which included Wakeley church stabbing videos. The social media site, earlier known as Twitter, had agreed to geo-block the posts so that users in Australia are not able to see them. However, the eSafety Commission stated that it was not sufficient. It demanded that the posts be pulled down by X globally and claimed that they are still easily accessible in Australia by using virtual private networks which mask the location of a user. As per the eSafety Commission, virtual private networks are used by nearly a quarter of Australians. The online watchdog had expressed worry that the video could be used for radicalising people online. However, lawyers representing X Corp said that there should have been no removal notice against the video as it was not overly graphic, did not meet the legal threshold for removal of the video as per Australian law and failed to glorify terrorism. Watch: Musk's net worth up $37.3 bn in biggest weekly gain since pre-Twitter deal This legal decision is not X's final legal win in the case which led to weeks of local debate between Prime Minister Anthony Albanese and Musk. The ruling of the court cannot be seen as a total victory for X since it had not abided by the order to take down the videos worldwide and could face further legal action. The case will help people understand the legal responsibilities of the social media platform and the use of geoblocking. (With inputs from agencies)

Elon Musk's X wins legal battle over ban on Australia church stabbing video

Tech's very own notorious kid - Elon Musk - is in the headlines again. This time it is his statement regarding the US elections. Musk took to his social media platform X and said that the 2024 elections will be the last election that will be fully decided by US citizens.

Elon Musk reacts to equal representation act bill, says 'going to be even more crazy'

Many protesters expressed dismay to the expansion of a Tesla plant in Grünheide, near Berlin, clashed with police last week when some of them attempted to barge in the electric vehicle manufacturing facility.

Approximately 800 people were part of the protest; according to the organising group Disrupt Tesla. The group also claims the expansion would damage the environment.

 
Tesla has intrigued fierce backlash since the company opened the factory in March 2022, and announced plans to expand into a nearby forest to increase its production capability.

 
In February, the town where the factory is situated opposed the proposals in a non-legally binding referendum. Following this, demonstrators have maintained an encampment nearby as a form of protest.

Read More:<a href="https://www.wionews.com/business-economy/france-secures-major-investments-and-jobs-from-amazon-pfizer-and-morgan-stanley-720840">&nbsp;France secures major investments and jobs &nbsp;from Amazon, Pfizer, and Morgan Stanley</a>

 
In a video, many people were seen wearing blue caps and masks coming from a nearby wooded area, attempted to storm the company’s premises while the police officers were trying to prevent them. At least one protester was detained.

 
The same facility was completely shut for a week in March after suspected arson disabled its power. A separate protest collective called Volcano Group took responsibility for the fire, calling for the “complete destruction of the gigafactory”.

 
According to Ole Becker, a spokesperson for Disrupt Tesla, the group aims to draw attention to the environmental harm caused by lithium mining in countries like Argentina or Bolivia. This mineral is crucial for manufacturing electric vehicle batteries.

 
“Why do the police let the leftwing protestors off so easily?” the Tesla CEO, Elon Musk, wrote on his social medial platform X, adding that the demonstrators could not through. Tesla, which dissolved its press department in 2020, did not respond to request for comment.

 
The police confirmed that the protesters tried to enter the plant’s premises, but were stopped, with several people taken into custody, and that it received a few reports of injuries.

 
“We protect the freedom of assembly,” said a Brandenburg police spokesperson, Mario Heinemann, “but we are also responsible for public order and safety. That means we will also intervene when necessary.”

 
The police spokesperson added that some demonstrators also damaged a few Tesla cars using pyrotechnics and paint at a nearby car storage site.

Earlier this week Tesla mentioned that it would shut the factory for one day on Friday, without specifying a reason.&nbsp;

(With inputs from Reuters)

Many protesters expressed dismay to the expansion of a Tesla plant in Grünheide, near Berlin, clashed with police last week when some of them attempted to barge in the electric vehicle manufacturing facility.

Many protesters expressed dismay to the expansion of a Tesla plant in Grünheide, near Berlin, clashed with police last week when some of them attempted to barge in the electric vehicle manufacturing facility. Approximately 800 people were part of the protest; according to the organising group Disrupt Tesla. The group also claims the expansion would damage the environment. Tesla has intrigued fierce backlash since the company opened the factory in March 2022, and announced plans to expand into a nearby forest to increase its production capability. In February, the town where the factory is situated opposed the proposals in a non-legally binding referendum. Following this, demonstrators have maintained an encampment nearby as a form of protest. Read More: France secures major investments and jobs from Amazon, Pfizer, and Morgan Stanley In a video, many people were seen wearing blue caps and masks coming from a nearby wooded area, attempted to storm the company’s premises while the police officers were trying to prevent them. At least one protester was detained. The same facility was completely shut for a week in March after suspected arson disabled its power. A separate protest collective called Volcano Group took responsibility for the fire, calling for the “complete destruction of the gigafactory”. According to Ole Becker, a spokesperson for Disrupt Tesla, the group aims to draw attention to the environmental harm caused by lithium mining in countries like Argentina or Bolivia. This mineral is crucial for manufacturing electric vehicle batteries. “Why do the police let the leftwing protestors off so easily?” the Tesla CEO, Elon Musk, wrote on his social medial platform X, adding that the demonstrators could not through. Tesla, which dissolved its press department in 2020, did not respond to request for comment. The police confirmed that the protesters tried to enter the plant’s premises, but were stopped, with several people taken into custody, and that it received a few reports of injuries. “We protect the freedom of assembly,” said a Brandenburg police spokesperson, Mario Heinemann, “but we are also responsible for public order and safety. That means we will also intervene when necessary.” The police spokesperson added that some demonstrators also damaged a few Tesla cars using pyrotechnics and paint at a nearby car storage site. Earlier this week Tesla mentioned that it would shut the factory for one day on Friday, without specifying a reason. (With inputs from Reuters)

Protestors try to attack German Tesla factory, clash with police

Starlink, the satellite arm of Elon Musk's SpaceX, warned on Saturday of a "degraded service" as the Earth is battered by the biggest geomagnetic storm due to solar activity in two decades.

Starlink owns around 60 per cent&nbsp;of the roughly 7,500 satellites orbiting Earth and is a dominant player in satellite internet.

Musk said earlier in a post on X that Starlink satellites were under a lot of pressure due to the geomagnetic storm, but were holding up so far.

<a href="https://www.wionews.com/trending/elon-musk-claims-aliens-have-never-visited-earth-and-heres-the-proof-719996">Also read |&nbsp;Elon Musk cites simple proof to assert his belief that aliens don't exist</a>

The US&nbsp;National Oceanic and Atmospheric Administration has said the storm is the biggest since October 2003 and likely to persist over the weekend, posing risks to navigation systems, power grids, and satellite navigation, among other services.

The thousands of Starlink satellites in low-Earth orbit use inter-satellite laser links to pass data between one another in space at the speed of light, allowing the network to offer internet coverage around the world.

Also watch |&nbsp;Elon Musk's Neuralink brain implant malfunctioned weeks post-operation

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/elon-musks-neuralink-brain-implant-malfunctioned-weeks-post-operation-720162/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Starlink, the satellite arm of Elon Musk's SpaceX, warned on Saturday of a "degraded service" as the Earth is battered by the biggest geomagnetic storm due to solar activity in two decades.

Starlink, the satellite arm of Elon Musk's SpaceX, warned on Saturday of a "degraded service" as the Earth is battered by the biggest geomagnetic storm due to solar activity in two decades. Starlink owns around 60 per cent of the roughly 7,500 satellites orbiting Earth and is a dominant player in satellite internet. Musk said earlier in a post on X that Starlink satellites were under a lot of pressure due to the geomagnetic storm, but were holding up so far. Also read | Elon Musk cites simple proof to assert his belief that aliens don't exist The US National Oceanic and Atmospheric Administration has said the storm is the biggest since October 2003 and likely to persist over the weekend, posing risks to navigation systems, power grids, and satellite navigation, among other services. The thousands of Starlink satellites in low-Earth orbit use inter-satellite laser links to pass data between one another in space at the speed of light, allowing the network to offer internet coverage around the world. Also watch | Elon Musk's Neuralink brain implant malfunctioned weeks post-operation

Elon Musk’s Starlink satellites disrupted by major solar storm

Elon Musk's Neuralink has faced a significant challenge with its first attempt to implant its chip in a human. On Wednesday (May 8) the company revealed that its device had started detaching from the patient's brain.

<h2>A brain implant</h2>

The patient, Noland Arbaugh, had the Neuralink chip surgically implanted in February, but issues cropped up shortly thereafter, reducing its functionality.

The Guardian reports that the miniature computer's threads were observed to be retracting from the brain.

Also read |&nbsp;<a href="https://www.wionews.com/world/first-neuralink-patient-learns-about-brain-implant-through-drunken-phone-call-from-friend-704925">First Neuralink patient heard about brain implant through drunken phone call from friend</a>

"In the weeks following the surgery, a number of threads retracted from the brain, resulting in a net decrease in the number of effective electrodes," said the company in a blog post on its website.

Neuralink, as of now, has not disclosed why this happened. However, in the blog post, it reported that its engineers had refined the implant and restored functionality.

"In response to this change, we modified the recording algorithm to be more sensitive to neural population signals, improved the techniques to translate these signals into cursor movements, and enhanced the user interface. These refinements produced a rapid and sustained improvement in BPS, that has now superseded Noland's initial performance," it said.

<h2>How did the reduced capacity affect the patient?</h2>

Despite the setback, the device continued to operate at a diminished capacity, allowing Arbaugh to control a computer and play chess using his thoughts alone. It did not appear to endanger Noland Arbaugh.

The Wall Street Journal, which first reported the complications, noted that the company considered removing the implant after discovering the detachment.

Also read:&nbsp;<a href="https://www.wionews.com/science/role-reversal-humans-to-blame-shocking-study-reveals-humans-infect-animals-twice-as-much-704746">We are the infectors: Humans pass on viruses to animals twice than the other way around!</a>

The experimental Neuralink technology involves embedding a processor and battery in the skull, which is connected to the brain via 64 thin threads. These threads interact with neural signals, allowing the user, in this case, a quadriplegic, to manipulate digital devices like keyboards or mouse cursors.

Arbaugh says that despite the challenges, the implant has significantly impacted his life.

"[The Link] has helped me reconnect with the world, my friends, and my family. It's given me the ability to do things on my own again without needing my family at all hours of the day and night," he said, as quoted in the Neuralink blog post.

(With inputs from agencies)

Elon Musk's Neuralink has faced a significant challenge with its first attempt to implant its chip in a human. On Wednesday (May 8) the company revealed that its device had started detaching from the patient's brain.

Elon Musk's Neuralink has faced a significant challenge with its first attempt to implant its chip in a human. On Wednesday (May 8) the company revealed that its device had started detaching from the patient's brain. A brain implant The patient, Noland Arbaugh, had the Neuralink chip surgically implanted in February, but issues cropped up shortly thereafter, reducing its functionality. The Guardian reports that the miniature computer's threads were observed to be retracting from the brain. Also read | First Neuralink patient heard about brain implant through drunken phone call from friend "In the weeks following the surgery, a number of threads retracted from the brain, resulting in a net decrease in the number of effective electrodes," said the company in a blog post on its website. Neuralink, as of now, has not disclosed why this happened. However, in the blog post, it reported that its engineers had refined the implant and restored functionality. "In response to this change, we modified the recording algorithm to be more sensitive to neural population signals, improved the techniques to translate these signals into cursor movements, and enhanced the user interface. These refinements produced a rapid and sustained improvement in BPS, that has now superseded Noland's initial performance," it said. How did the reduced capacity affect the patient? Despite the setback, the device continued to operate at a diminished capacity, allowing Arbaugh to control a computer and play chess using his thoughts alone. It did not appear to endanger Noland Arbaugh. The Wall Street Journal, which first reported the complications, noted that the company considered removing the implant after discovering the detachment. Also read: We are the infectors: Humans pass on viruses to animals twice than the other way around! The experimental Neuralink technology involves embedding a processor and battery in the skull, which is connected to the brain via 64 thin threads. These threads interact with neural signals, allowing the user, in this case, a quadriplegic, to manipulate digital devices like keyboards or mouse cursors. Arbaugh says that despite the challenges, the implant has significantly impacted his life. "[The Link] has helped me reconnect with the world, my friends, and my family. It's given me the ability to do things on my own again without needing my family at all hours of the day and night," he said, as quoted in the Neuralink blog post. (With inputs from agencies)

Human trial of Elon Musk's Neuralink hits snag as brain chip begins to detach

The existence of aliens has always been a hot topic of discussion among humans. While some believe in their presence, others deny it. Elon Musk too isn't convinced that aliens have ever visited our planet Earth.

Elon Musk claims aliens have never visited Earth, shares proof

Elon Musk's Neuralink brain implant malfunctioned weeks post-operation

Elon Musk's Neuralink brain implant hits a snag

Elon Musk, a gifted visionary, billionaire and often a controversial figure, believes aliens have never visited our planet Earth.

Addressing the perennial question at a panel titled "How to save the human race and other light topics" at the 2024 Milken Institute Global Conference held in Los Angeles on Tuesday (May 7), Musk, however, said if humanity was to send probes into the universe, we would surely find "remains of long-dead alien civilisations."&nbsp;

<h2>What proof does Musk have?</h2>

The SpaceX founder, whose company operates the Starlink satellite constellation consisting of approximately 6,000 units, said that his company has never come across unidentified flying objects that could suggest alien presence.&nbsp;

"I've not seen any evidence of aliens," said Musk, as quoted by space.com.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/science/knock-knock-whos-therealiens-when-humanity-tried-to-talk-to-the-little-green-men-475713">Knock! Knock! Who's there?...Aliens: When humanity tried to talk to the little green men</a>

"And SpaceX, with the Starlink constellation, has roughly 6,000 satellites, and not once have we had to manoeuvre around a UFO… Never. So I'm like, okay, I don't see any evidence of aliens," he reasoned.

He said that this lack of evidence leads him to believe that if such advanced alien civilisations existed, they would have made their presence known more concretely.

However, he said he is open to concrete proof about visitations by the so-called little green men.

"If somebody has evidence of aliens, you know, that's not just a fuzzy blob, then I'd love to see it, love to hear about it," he said, adding&nbsp;"But I don't think there is."

Watch |&nbsp;Are Peruvian Alien Mummies Real or a Clever Hoax? Harvard Expert Weighs In!

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/its-all-in-the-name-astronomers-clash-over-renaming-galaxies-for-a-more-inclusive-cosmos-659401/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<h2>Humanity, a 'tiny candle in vast darkness': Musk</h2>

Mulling over what this means for the future of humanity, Musk suggested that the absence of contact with alien civilisations might indicate that advanced societies are both "precarious and rare".&nbsp;

He said that if there are aliens out there and an alien species has managed to survive for a million years or so, it should've been able to settle in the entire Milky Way galaxy.

"So, they haven't, so why not?" he asked before speculating a probable answer.

Also read |&nbsp;<a href="https://www.wionews.com/technology/know-something-about-aliens-or-ufos-pentagon-wants-to-know-launches-online-reporting-tool-654294">Know something about aliens or UFOs? You can tell Pentagon all about it at...</a>

"I think the answer might be, probably,&nbsp;that civilisation is precarious and rare. And that we should really think of human civilisation as being like a tiny candle in a vast darkness." 
&nbsp; 
This, he argued, underscores the importance of safeguarding human civilisation.

"We should do everything possible to ensure that the candle does not go out," he stressed.

(With inputs from agencies)

Elon Musk, a gifted visionary, billionaire and often a controversial figure, believes aliens have never visited our planet Earth. Addressing the perennial question at a panel titled "How to save the human race and other light topics" at the 2024 Milken Institute Global Conference held in Los Angeles on Tuesday (May 7), Musk, however, said if humanity was to send probes into the universe, we would surely find "remains of long-dead alien civilisations.

Elon Musk, a gifted visionary, billionaire and often a controversial figure, believes aliens have never visited our planet Earth. Addressing the perennial question at a panel titled "How to save the human race and other light topics" at the 2024 Milken Institute Global Conference held in Los Angeles on Tuesday (May 7), Musk, however, said if humanity was to send probes into the universe, we would surely find "remains of long-dead alien civilisations." What proof does Musk have? The SpaceX founder, whose company operates the Starlink satellite constellation consisting of approximately 6,000 units, said that his company has never come across unidentified flying objects that could suggest alien presence. "I've not seen any evidence of aliens," said Musk, as quoted by space.com. Also read | Knock! Knock! Who's there?...Aliens: When humanity tried to talk to the little green men "And SpaceX, with the Starlink constellation, has roughly 6,000 satellites, and not once have we had to manoeuvre around a UFO… Never. So I'm like, okay, I don't see any evidence of aliens," he reasoned. He said that this lack of evidence leads him to believe that if such advanced alien civilisations existed, they would have made their presence known more concretely. However, he said he is open to concrete proof about visitations by the so-called little green men. "If somebody has evidence of aliens, you know, that's not just a fuzzy blob, then I'd love to see it, love to hear about it," he said, adding "But I don't think there is." Watch | Are Peruvian Alien Mummies Real or a Clever Hoax? Harvard Expert Weighs In! Humanity, a 'tiny candle in vast darkness': Musk Mulling over what this means for the future of humanity, Musk suggested that the absence of contact with alien civilisations might indicate that advanced societies are both "precarious and rare". He said that if there are aliens out there and an alien species has managed to survive for a million years or so, it should've been able to settle in the entire Milky Way galaxy. "So, they haven't, so why not?" he asked before speculating a probable answer. Also read | Know something about aliens or UFOs? You can tell Pentagon all about it at... "I think the answer might be, probably, that civilisation is precarious and rare. And that we should really think of human civilisation as being like a tiny candle in a vast darkness." This, he argued, underscores the importance of safeguarding human civilisation. "We should do everything possible to ensure that the candle does not go out," he stressed. (With inputs from agencies)

Elon Musk cites simple proof to assert his belief that aliens don't exist

The race for dominance in large language models has a new contender. Elon musk's x-AI corporation is nearing the close of a significant funding round, with investors valuing the company at $18 billion. Watch in for more details!

Musk's xAI valuation soars to $18 billion amid investor interest

Tesla is facing a federal investigation by the US Department of Justice. Prosecutors are examining whether tesla misled investors and consumers about the capabilities of its autopilot and full self-driving technologies. These driver-assistance systems have been linked to several crashes, including fatalities.

Tesla under investigation for possible fraudulent claims | World Business Watch

<o:p></o:p>

Tesla has witnessed a significant shakeup in its executive bench, with at least five high-ranking members departing from the company. <o:p></o:p>

A little over a year ago, Elon Musk had showcased a lineup of 16 executives during Tesla's investor day. <o:p></o:p>

However, a recent analysis by Reuters revealed a notable mass departure from that cohort, raising questions about the stability of Tesla's leadership structure.<o:p></o:p>

Among the departures is Zach Kirkhorn, Tesla's former Chief Financial Officer, who resigned with a nondisclosure agreement, according to regulatory filings. <o:p></o:p>

Drew Baglino, the former chief battery engineer, also parted ways with Tesla in a wave of layoffs initiated by Musk. <o:p></o:p>

Baglino notably sold $181 million in Tesla stock upon his departure. <o:p></o:p>

Additionally, Rebecca Tinucci, who led Tesla's charging team, was let go.<o:p></o:p>

Addressing the recent developments, Musk, in an email to senior managers, emphasised stringent cost reduction measures, indicating a major restructuring within the company. <o:p></o:p>

Despite the departures, Musk remains resolute in his vision for Tesla's future, particularly in the realm of artificial intelligence (AI) and the development of robotaxis. <o:p></o:p>

These shifts, Musk contends, are crucial for Tesla's continued success. <o:p></o:p>

The departure of key executives has prompted scrutiny from corporate governance experts like Charles Elson, who view the rapid turnover as indicative of potential leadership challenges within Tesla. <o:p></o:p>

However, some investors prioritised Musk's continued involvement in the company, considering his indispensable role in navigating Tesla through crises.<o:p></o:p>

Gene Munster, managing partner at Deepwater Asset Management, highlights Musk's ability to attract talent and drive innovation as essential to Tesla's trajectory. <o:p></o:p>

Tesla's realignment, moving towards AI and robotaxis, has led to operational adjustments, including a 10 per cent reduction in staff and a shift in focus from new vehicle lines to the enhancement of existing models. <o:p></o:p>

These decisions, while signalling a departure from traditional auto manufacturing, align with Musk's vision for Tesla's future as a leader in autonomous driving technology. <o:p></o:p>

Although there are concerns over executive turnover, some analysts believe that aligning resources with Tesla's evolving priorities is essential for long-term success. <o:p></o:p>

Recent departures from Tesla's executive team, including Daniel Ho and Rohan Patel show that company's leadership landscape continues to change.<o:p></o:p>

While some exits have garnered praise from Musk, highlighting the departing individuals' contributions, others signal a broader restructuring aimed at aligning Tesla's workforce with its strategic objectives. <o:p></o:p>

As Tesla navigates through what analysts describe as a "Category 5 storm," the composition of its executive bench remains a critical factor in overcoming challenges and achieving sustained growth.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Tesla has witnessed a significant shakeup in its executive bench, with at least five high-ranking members departing from the company. A little over a year ago, Elon Musk had showcased a lineup of 16 executives during Tesla's investor day.

Tesla has witnessed a significant shakeup in its executive bench, with at least five high-ranking members departing from the company. A little over a year ago, Elon Musk had showcased a lineup of 16 executives during Tesla's investor day. However, a recent analysis by Reuters revealed a notable mass departure from that cohort, raising questions about the stability of Tesla's leadership structure. Among the departures is Zach Kirkhorn, Tesla's former Chief Financial Officer, who resigned with a nondisclosure agreement, according to regulatory filings. Drew Baglino, the former chief battery engineer, also parted ways with Tesla in a wave of layoffs initiated by Musk. Baglino notably sold $181 million in Tesla stock upon his departure. Additionally, Rebecca Tinucci, who led Tesla's charging team, was let go. Addressing the recent developments, Musk, in an email to senior managers, emphasised stringent cost reduction measures, indicating a major restructuring within the company. Despite the departures, Musk remains resolute in his vision for Tesla's future, particularly in the realm of artificial intelligence (AI) and the development of robotaxis. These shifts, Musk contends, are crucial for Tesla's continued success. The departure of key executives has prompted scrutiny from corporate governance experts like Charles Elson, who view the rapid turnover as indicative of potential leadership challenges within Tesla. However, some investors prioritised Musk's continued involvement in the company, considering his indispensable role in navigating Tesla through crises. Gene Munster, managing partner at Deepwater Asset Management, highlights Musk's ability to attract talent and drive innovation as essential to Tesla's trajectory. Tesla's realignment, moving towards AI and robotaxis, has led to operational adjustments, including a 10 per cent reduction in staff and a shift in focus from new vehicle lines to the enhancement of existing models. These decisions, while signalling a departure from traditional auto manufacturing, align with Musk's vision for Tesla's future as a leader in autonomous driving technology. Although there are concerns over executive turnover, some analysts believe that aligning resources with Tesla's evolving priorities is essential for long-term success. Recent departures from Tesla's executive team, including Daniel Ho and Rohan Patel show that company's leadership landscape continues to change. While some exits have garnered praise from Musk, highlighting the departing individuals' contributions, others signal a broader restructuring aimed at aligning Tesla's workforce with its strategic objectives. As Tesla navigates through what analysts describe as a "Category 5 storm," the composition of its executive bench remains a critical factor in overcoming challenges and achieving sustained growth. (With inputs from Reuters)

Tesla undergoes executive overhaul as Musk implements strategy shifts: Report

Elon Musk's wealth is on the rise again. After a significant dip earlier in 2024, his net worth has surged by $37.3 billion in just the past week. This marks his biggest weekly gain since march 2022, right before his acquisition of Twitter.

Musk's net worth up $37.3 bn in biggest weekly gain since pre-Twitter deal

Elon Musk has made significant staff changes at Tesla, letting go of two senior executives and announcing plans for further job cuts. The decision comes in response to decelerating sales and an aggressive price war, resulting in Tesla's first quarterly revenue drop since 2020.

Rebecca Tinucci, the senior director of Tesla's Supercharger business, and Daniel Ho, head of the new vehicles program, have been asked to leave the company by Tuesday, along with their respective teams. This will include approximately 500 employees who work in the Supercharger group.

According to reports, Musk explained in his email to his employees, "Hopefully these actions are making it clear that we need to be absolutely hardcore about headcount and cost reduction. While some on exec staff are taking this seriously, most are not yet doing so."

The precipitous nature of the layoffs has caught many industry officials and analysts off guard, especially after Tesla’s recent plans to open its Supercharger network to other electric vehicle manufacturers.

Tesla's decision to open its network to competing EV manufacturers including GM, Ford and other automakers was applauded by U.S. President Joe Biden and attracted federal subsidies to expand the reach of its North American Charging Standard (NACS) system.

GM and Ford, in separate statements, shared that they are not altering their plans to equip their EVs with connectors that will allow drivers of Chevrolet, Cadillac or Ford brand EVs to recharge at Tesla stations. "We are continuing to monitor the situation regarding changes to the Supercharger team and the potential impacts with no further comments or updates at this time," GM said.

Andres Pinter, co-CEO of Bullet EV Charging Solutions, a supplier to the network, said, “Tesla has already been awarded money under the federal government's NEVI program, he stated, referring to the National Electric Vehicle Infrastructure formula program to provide funding to states to deploy EV charging networks…There's no way Mr. Musk would walk away from effectively free money. It may be possible Musk will reconstitute the EV charger team in bigger, badder, more Muskian way."

According to media reports, despite the job cuts, Tesla intends to continue expanding its Supercharger network, although at a slower pace, “with more focus on 100% uptime and expansion of existing locations."

While some industry experts are speculating on the long-term implications of the layoffs, others are confident that Tesla will eventually restructure its EV charger team to make the most of government funding and scale up its charging infrastructure.

Seven large automakers, including Mercedes, GM, Stellantis, Honda, BMW, and Hyundai-Kia formed a joint venture last year called ‘Ionna’ to develop a fast-charging network to compete with the Tesla Supercharger network.

Earlier this month, two other senior leaders, Rohan Patel who led Tesla’s public policy team and battery development chief Drew Baglino, announced their departures. Tesla had also laid off more than 10% of its workforce at the time.&nbsp;

Even after a surge over the past week, Tesla shares are down about 26% for the year. Morningstar analyst Seth Goldstein commented, "Tesla is looking to right size its (capital spending) and operating expenses over the next couple of years as the company is in a slower growth phase".

Elon Musk has made significant staff changes at Tesla, letting go of two senior executives and announcing plans for further job cuts. The decision comes in response to decelerating sales and an aggressive price war, resulting in Tesla's first quarterly revenue drop since 2020.

Elon Musk has made significant staff changes at Tesla, letting go of two senior executives and announcing plans for further job cuts. The decision comes in response to decelerating sales and an aggressive price war, resulting in Tesla's first quarterly revenue drop since 2020. Rebecca Tinucci, the senior director of Tesla's Supercharger business, and Daniel Ho, head of the new vehicles program, have been asked to leave the company by Tuesday, along with their respective teams. This will include approximately 500 employees who work in the Supercharger group. According to reports, Musk explained in his email to his employees, "Hopefully these actions are making it clear that we need to be absolutely hardcore about headcount and cost reduction. While some on exec staff are taking this seriously, most are not yet doing so." The precipitous nature of the layoffs has caught many industry officials and analysts off guard, especially after Tesla’s recent plans to open its Supercharger network to other electric vehicle manufacturers. Tesla's decision to open its network to competing EV manufacturers including GM, Ford and other automakers was applauded by U.S. President Joe Biden and attracted federal subsidies to expand the reach of its North American Charging Standard (NACS) system. GM and Ford, in separate statements, shared that they are not altering their plans to equip their EVs with connectors that will allow drivers of Chevrolet, Cadillac or Ford brand EVs to recharge at Tesla stations. "We are continuing to monitor the situation regarding changes to the Supercharger team and the potential impacts with no further comments or updates at this time," GM said. Andres Pinter, co-CEO of Bullet EV Charging Solutions, a supplier to the network, said, “Tesla has already been awarded money under the federal government's NEVI program, he stated, referring to the National Electric Vehicle Infrastructure formula program to provide funding to states to deploy EV charging networks…There's no way Mr. Musk would walk away from effectively free money. It may be possible Musk will reconstitute the EV charger team in bigger, badder, more Muskian way." According to media reports, despite the job cuts, Tesla intends to continue expanding its Supercharger network, although at a slower pace, “with more focus on 100% uptime and expansion of existing locations." While some industry experts are speculating on the long-term implications of the layoffs, others are confident that Tesla will eventually restructure its EV charger team to make the most of government funding and scale up its charging infrastructure. Seven large automakers, including Mercedes, GM, Stellantis, Honda, BMW, and Hyundai-Kia formed a joint venture last year called ‘Ionna’ to develop a fast-charging network to compete with the Tesla Supercharger network. Earlier this month, two other senior leaders, Rohan Patel who led Tesla’s public policy team and battery development chief Drew Baglino, announced their departures. Tesla had also laid off more than 10% of its workforce at the time. Even after a surge over the past week, Tesla shares are down about 26% for the year. Morningstar analyst Seth Goldstein commented, "Tesla is looking to right size its (capital spending) and operating expenses over the next couple of years as the company is in a slower growth phase".

Tesla shakes up staff amid revenue decline

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