Last week, the biggest news in the Tesla world happened to be tantalizing hints about the company’s upcoming, supposedly sub-$50,000 pickup truck. Thisweek, Tesla-related news takes a more somber note, as media reports tell of a worsening work environment along with the automaker’s race against time to achieve profitability. Building a great product is one thing, but keeping owners and investors happy are challenges Tesla is facing head-on in an increasingly competitive market.
To stay updated on everything you need to know about Tesla, read on for our weekly roundup up all the S3XYnews.
Surveys Show Employee Relations Decline
Going by this recent report in Reuters, the mood within Tesla has recently taken a serious downturn. That’s because the automaker’s overall employee satisfaction rating has dropped significantly over the past few months, according to surveys from popular job-market websites.
On LinkedIn.com’s annual survey of most desirable companies, Tesla dropped to 16th in 2019 compared with fifth and sixth in 2018 and 2017, respectively. Meanwhile, its Glassdoor employee rating dropped from a circa-2017 high of 3.6 stars (out of a maximum 5.0) to 3.2 in the most recent survey. More alarming is the view from below of those at the very top of the Tesla food chain, particularly CEO Elon Musk.
Back in early 2017, the employee satisfaction numbers for Musk hovered around 90 percent. Now, according to Reuters, this number of Musk believers barely crests the 50 percent mark. To Tesla’s credit, the company says it has hundreds of thousands of job applicants and is working to add more staff as the company expands and builds upon the success of the Model 3 luxury electric sedan.
Back From the Brink or on the Edge?
Another article, from The New York Times,describes how complicated Tesla’s move into the mainstream has been. Concerns remain about the brand’s longevity — even though the Model 3 is outselling conventional luxury sedans like the BMW 3 Series and Mercedes-Benz C-Class.
Tales of brand-new vehicles needing cosmetic fixes, along with worries that waning federal tax creditswill negatively impact sales in the weeks ahead, have only added to the brand’s woes. More importantly, this news is impacting how Wall Street views Tesla stock. From the beginning of 2019 until now, the Times reports, Tesla has lost approximately $30 billion in value.
Audi e-tron, Jaguar I-Pace Recalled
The electric car market is still on a learning curve, and Tesla isn’t the only automaker learning this lesson firsthand. The Jaguar I-Pace and Audi e-tron SUVs have each been subject to recalls. For the I-Pace, the culprit is the regenerative braking system. Should the system fail, there could be a noticeable delay between pressing the brakes and having the vehicle slow down. The recall applies to about 3,000 vehicles in total.
Over at Audi, roughly 1,600 examples of the e-tron SUVare part of a recall concerning moisture entering the battery compartment. While Audi has stated that no instances of this failure have been reported, the company urges owners to immediately park and stop driving the vehicle if a yellow battery light appears on the dash.
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