Tesla is Actively Hiring Staff in China Despite Musk’s Memo
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© Reuters Tesla (TSLA) is Actively Hiring Staff in China Despite Musk’s Memo – ReportBy Senad Karaahmetovic
Tesla (NASDAQ:) carried on with its online hiring event in China and announced two dozen new job openings in the country just a week after the carmaker’s CEO Elon Musk warned of job cuts, Reuters reports.
The world’s largest electric vehicle (EV) maker by market cap plans to hire new employees for its “smart manufacturing roles,” the company wrote in a post.
Reuters reports that the EV manufacturer currently has 224 job opportunities in China for engineers and managers. This is following 24 additional job openings added on June 9, 2012.
Tesla is also looking to hire managers and engineers who would oversee the operations of Giga Press, the company’s 6,000-ton die casting machines.
China’s largest carmaker regularly hosts an online event for hiring. Similar events were held last month for summer interns.
In the meantime, Tesla produced 33,544 China-made EV units in May vs 10,757 in April, according to China’s Passenger Car Association (PCA).
Tesla saw its revenue more than double in China last year on an annual basis, accounting for roughly 25% of the company’s total income.
Tesla’s Shanghai factory produced more than half of the cars the company made in 2021, with the carmaker planning to expand the plant in the future. At its Shanghai factory, Tesla makes Model 3 and Model Y cars.
But Tesla saw a significant production hit at the plant after Shanghai’s authorities imposed a two-month coronavirus lockdown that closed the factory for 22 days and made it difficult for the carmaker to return to full production after reopening.
Tesla shares are up more than 3% pre-open on Thursday, after UBS raised the price to Buy.
Patrick Hummel, an analyst commented on how media coverage about Musk’s email to his staff regarding job cuts doesn’t alter Musk’s positive long-term outlook for TSLA.
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