tesla cars | Pixr8 News

World's leading electric automobile maker Tesla said it was closing "many" of its 378 retail stores around the world as it shifts to an online-only sales model. The decision was surprised many of them including Tesla's Fan. The announcement came after another round of layoffs at the electric automaker like affected some 7% of its workforce in January in a bid to cut costs following its production ramp for the Model 3. Tesla did not respond to questions from Pixr8 News on how many stores will be closing. "Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected," the company said in a blog post. "Over the next few m...

Electric car maker Tesla Inc reaffirmed on Sunday it is talking with the Shanghai municipal government to set up a factory in the region and expects to agree on a plan by the end of the year, but declined to comment on a report that a deal has been reached. China levies a 25 percent duty on sales of imported vehicles and has not allowed foreign automakers to establish wholly owned factories in the country, the world’s largest auto market. Those are problems for Tesla, which wants to expand its presence in China’s growing electric vehicle market without compromising its independence or intellectual property. China’s government has considered allowing foreign automakers to set up wholly owned factories in free trade zones in part to encourage more production of electric and hybrid vehi...

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Tesla Closing its Retail Stores, Focus on Online Sales Only

Tesla Reaffirms Effort To Build Cars In China; Mum On Deal Report