Tesla Gives Cybertruck Production Line Workers 3 Days Off: Report – Tesla (NASDAQ:TSLA)

EV big Tesla Inc. TSLA has reportedly knowledgeable its staff on the Cybertruck manufacturing line at its gigafactory in Texas to take three days off ranging from Tuesday.

What Occurred: Tesla informed its staff in a memo seen by Enterprise Insider that staff needn’t report back to work on Tuesday, Wednesday, and Thursday.

Staff would return to Cybertruck’s manufacturing line on Friday and would obtain eight hours of pay for every day they had been scheduled to work. Nonetheless, some staff won’t have the identical schedule and will likely be notified individually, the memo reportedly added.

Tesla didn’t instantly reply to Benzinga’s request for remark.

In line with the report, the schedule of staff working on the Cybertruck line has been inconsistent since late October.

Why It Issues: Tesla began delivering the Cybertruck to prospects within the U.S. in November 2023. Months previous to beginning deliveries, firm CEO Elon Musk mentioned that scaling manufacturing and never demand could be the largest hurdle for Cybertruck given its sturdy order guide. Musk then mentioned that the corporate already has over 1,000,000 pre-orders for the car.

Nonetheless, upon the beginning of deliveries, the car was priced considerably larger than the estimated worth supplied on the time of the car’s unveiling in 2019, presumably deterring reservation holders from making the acquisition.

In line with knowledge from automotive analysis firm Kelley Blue Ebook, Tesla offered 16,692 Cybertrucks within the third quarter within the U.S., trumping EV vans from rivals together with the Ford F-150 Lightning and the Rivian R1T, to change into the third-best-selling EV behind Mannequin Y and Mannequin 3.

Nonetheless, the corporate had greater ambitions for the Cybertruck with Musk beforehand saying that the corporate is aiming to make as much as 250,000 Cybertrucks in 2025.

Nonetheless, Tesla is just not the one one to briefly pause the manufacturing of its EV pickup. Final month, Benzinga reported that Ford will pause the manufacturing of its F-150 Lightning pickup truck for six weeks from Nov. 18 to Jan.6 on the Rouge Electrical Car Plant.

“We proceed to regulate manufacturing for an optimum mixture of gross sales development and profitability,” Ford mentioned concerning the choice then.

Value Motion: Tesla inventory closed at $357.09 on Monday, up by 3.5%. In after-hours buying and selling, it fell 1.2%. Yr-to-date, the inventory has risen 43.7%, in keeping with Benzinga Professional knowledge.

The Tesla inventory has a consensus “Purchase” score from analysts, with the very best worth goal being $411. In line with the three most up-to-date analyst rankings launched by Roth MKM, Stifel, and UBS, the inventory has a mean worth goal of $339, which means a 5% draw back from the present worth.

Take a look at extra of Benzinga’s Future Of Mobility protection by following this hyperlink.

Learn Subsequent:

Picture courtesy: Shutterstock