Tesla’s Stock Price Has Dropped
What was once a new and innovative company that appeared to bring more noise to EVs has recently hit troubled times. One issue is that Tesla’s stock price has significantly dropped.
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Tesla’s share price dropped by 12% in January 2024, with many believing this has not been helped by the fact that Musk is demanding a significant amount of control over what goes on in the company, including its use of AI.
Tesla Could Go Bust
With the stock price dropping, a stock market bear has also predicted that if Musk continues with his current Tesla business model, the company could soon go bust in the near future.
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Even though Tesla was once the market leader in EVs, it is now facing increasing competition from other car manufacturers. As these manufacturers have a wider range of models to choose from than Tesla, people are choosing to use them for their EVs instead.
Tesla Employees Are Losing Their Jobs
In even more worrying times for the company, thousands of Tesla employees have lost their jobs over 2023 and 2024, and it is expected around a further 10% of Tesla staff will lose their jobs.
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This also includes prospective Tesla interns, who, in one morning went from being sent emails from Tesla about their flights to where their internship would be to a few hours later being told that their internship offers had been rescinded.
Tesla Is Building a Factory in Germany
Despite Tesla’s economic hardship, Musk is building a brand new Tesla factory in Germany that is set to bring jobs and economic growth to the region.
Source: Michael Wolf/Wikimedia Commons
However, many protestors are unhappy about a Tesla factory coming to their area, so they decided to storm the grounds where the factory is being built to show their true feelings for what is happening.
Tesla Protestors Hate Capitalism
One of the main reasons for the protestors storming the Tesla factory was due to them not being happy about the building of the Tesla factory representing capitalism, so they wanted to put a stop to it.
Source: @AiNewsRep/X
The results were dire. At least 20 of the protestors are currently detained, and around 76 are facing criminal charges. The group was a part of the “Disrupt Tesla” protestors, who aimed to direct their anger toward Musk and his company.
Disrupt Tesla Are Against Cars
Disrupt Tesla aims to get cars off the roads and encourages more people to use public transport. Their website states that 250,000 new cars are produced every year around Berlin and that the Tesla factory will contribute 1 million more.
Source: @disrupt__now/X
The group is worried about how this new factory will affect the ongoing climate crisis as they claim the local area is already going through drought, which has been further exacerbated by the building of the factory.
Protestors Include Extinction Rebellion
The Disrupt Tesla protestors are made up of various protesting groups, many of which are members of Extinction Rebellion and other local groups near where the factory is being built.
Source: @aurelidemesse/X
The protestors were accompanied by the police, who were there to try and keep the peace as much as possible. Around 2000 protestors were present, and there was a bit of a scuffle between protestors and police, which resulted in some injuries on both sides.
Other Protests Have Happened Due to Tesla
This isn’t the first time a protest has occurred due to the Tesla factory, as these were happening throughout the beginning of 2024.
Source: @UR_Ninja/X
These protests have been happening since February, and in March, a suspected arson attack happened near the plant that halted production. The attack had happened on some power lines, which cut the power off from the factory and was expected to cost $1 billion to repair.
Protesters Are Angry About Forests
The factory has been in production since 2021, with protests happening since then. However, with the recent announcement that the factory expand, this has angered protestors further.
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This is due to forests being cut down to make way for the factory. As protestors want the environment to be preserved, they are angry and worried about what the consequences will be.
Elon Musk Calls for Jail Time
As the owner and creator of Tesla, Musk is quite rightly annoyed by the protests at one of his factories and wants something done about them.
Source: @elonmusk/X
In a reply to one X user, who had posted images of the protests and detailed what had happened, Musk asked for them to be jailed for breaking and entering and is confused about why this hasn’t happened.
Tesla Employees Are Being Exploited
As anti-capitalist protestors, they are not only angry about the forests being cut down and the effects this and car production have on the environment, but they are also angry for the Tesla workers.
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According to the protesters, Tesla employees are being exploited, and they are hoping that with these protests, they can help put a stop to this supposed exploitation.