Tesla to cut 75% of its workforce at its battery factory in Nevada

As
per Friday’s update, the United States now has a greater number of Coronavirus
cases than either China or Italy. Widening restrictions to keep people at home
amidst the sharply rising outbreak is now important than ever for the U.S.

To
contribute to minimizing the fast transmission of COVID-19, the U.S electric
car manufacturer, Tesla Inc. (NASDAQ:TSLA) plans on sending 75% of its on-site
workforce at its battery plant in Nevada home, the local country manager stated
on Thursday.

Tesla’s Nevada Factory Produces Battery Packs And Electric Motors For Model 3 Sedans

Tesla’s
announcement came
on top of Panasonic’s’ statement (Tesla’s Japanese partner for battery
production) that it would minimize operations at Tesla’s battery factory in
Nevada before shutting down entirely for two weeks. Tesla’s Nevada factory is
dedicated to the production of battery packs and electric motors of the company’s
world-renowned Model 3 sedans.

Tesla
is yet to respond to the recent news. No information regarding the total number
of employees working at the factory is currently available. It is also not
known which of the 25% employees will continue to operate the factory during
the time of expanding quarantines and social distancing.

According
to the Reno Gazette-Journal, however, Panasonic has roughly 3,500 workers at
Tesla’s battery factory in Nevada.

Tesla
had also announced last week that it will temporarily halt operations at its
San Francisco Bay Area vehicle factory and the solar roof tile factory in New
York from March 23^rd. However, in a recent statement, Tesla’s Chief Executive
Officer, Elon Musk, said that the company wishes to resume operations at its
New York factory as soon as humanly possible and use it to ramp up the
production of ventilators to help the healthcare units in treating the
Coronavirus patients.

Tesla Said 2 Of Its Employees Were Tested Positive For Coronavirus

In
its email to employees, the company said on Thursday that two
of the workers were tested positive for the flu-like virus. The workers,
according to Tesla, were not symptomatic at work. They have attended work from
their homes in the past couple of weeks.

At
the time of writing, Tesla is exchanging hands at around £433.0 per share in
the stock market that translates to a massive over 40% decline since its record
high in February. Compared to its opening level of £353.0 in January 2020,
however, the company is still around 20% up in the stock market. Tesla Inc.
currently has a market cap of £80 billion.