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Tesla begins series of production breaks in Germany

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Tesla begins series of production breaks in Germany

Electric vehicle manufacturer, Tesla, will cease production at its German plant in Gruenheide for five days starting today.

For the third time this year, the automotive company announced it will pause production in the factory outside Berlin. The decision comes amid plunging sales for the Model Y Tesla and an overall slowdown in Europe’s electric vehicle (EV) market.

U.S. electric-vehicle sales were at a low point in the first quarter 2024, the share of EV in total new vehicle sales decreased  from 8.1 percent in 2023 to 7.3 percent in 2024. In response, Tesla laid off 10 percent of its global workforce.

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Following the company-wide layoffs, Tesla CEO Elon Musk clarified that the company would hire back some of the dismissed employees and the company plans to unveil a new model of Tesla in August. Expect U.S. and global EV sales to increase approximately 20 percent this year due to changing government policies and incentives, increasing environmental concerns, improvements in battery technology, and shifting consumer preferences. The International Energy Agency has estimated that U.S. sales of fully electric vehicles will grow to 2.5 million in 2025, compared to 1.1 million last year.

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