Tesla had to make some pretty severe cuts to preserve its second-quarter earnings, given the widespread effects of the COVID-19 pandemic. While Tesla’s North American factories were closed, the company suspended thousands of workers and cut wages by as much as 30 percent, suspended contract assignments, and even delayed performance reviews so you didn’t have to pay bonuses or salary increases. to employees who deserve it until the end of July. That turned out to be a pretty crude deal for many Tesla workers, who were forced to return to work before shelter-in-place orders were lifted, but hey, that made Musk significantly wealthier.
Despite factory shutdowns in the first half of the year, Tesla says its Fremont factory has already returned to capacity, and plans to pump 90,000 S and X models this year, as well as “increasing the full capacity of model 3. / model Y from 400,000 to 500,000 units per year, “according to the company’s income statement. For its part, the Shanghai factory is also slated to produce another 200,000 models 3. Work is still ongoing at the company’s factory in Berlin, as well as two additional US-based factories.
“We are very pleased to announce that we are going to build our next Gigafactory in Texas,” Musk said during the earnings call, indicating that the facility will be located about 15 minutes outside of Austin, “right on the Colorado River.”
“We are going to have a boardwalk where there will be a walking and biking trail,” he continued. “Basically it will be an ecological paradise: birds in the trees, butterflies, fish in the stream. And it will also be open to the public. “
The Austin factory is expected to produce the company’s next Cyber Truck, Tesla semi, and Model 3 / Y for the eastern half of North America, while the California factory will soon increase production on the Tesla Roadster. Musk explained.
