International News 17/05
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Tesla has announced plans to lay off 601 additional employees at its California factory.
Tesla has announced plans to lay off 601 employees in California as part of its ongoing global restructuring. The company cited declining sales and increased price competition as the primary reasons for this decision. In April, Tesla CEO Elon Musk announced that the company would reduce its global workforce by over 10% by the end of 2023. This marks several rounds of layoffs at Tesla, with the latest affecting employees at facilities in Palo Alto and Fremont, California. The layoffs will commence on 20 June 2024 and will affect approximately 20% of the company's headcount. Last month, Tesla announced that it would be laying off 6,020 employees in California and Texas. The global job cuts also include 285 employees at the Buffalo, New York facility responsible for the manufacturing of Autopilot driver assistance software and charging equipment.
https://internasional.kontan.co.id/news/tesla-akan-phk-601-karyawannya-lagi-di-pabrik-california
The total value of Bitcoin savings in El Salvador has reached nearly 474 million dollars.
Over the past three years, El Salvador has mined a total of 473.5 bitcoins, resulting in bitcoin savings currently valued at $354 million. The government has disclosed that its treasury now holds 5,750 bitcoins. The latest data indicates that an additional 473.5 bitcoins, with an estimated value of approximately $29 million, have been collected since September 2021. In 2021, El Salvador made history by becoming the first country to recognise bitcoin as legal tender. However, the decision was met with criticism due to the volatility of cryptocurrencies, with the International Monetary Fund (IMF) also expressing concerns. To facilitate bitcoin mining, the administration of President Nayib Bukele installed 300 processors, utilising 1.5 megawatts of power from a state-owned plant. A number of bitcoin mining companies, including Foundry USA, Ant Pool, ViaBTC, F2Pool, and Binance Pool, have joined forces to actively participate in bitcoin transactions. Mining activities require a significant amount of energy for computing and cooling data processing centres.
Xiaomi has become China's eighth largest electric car company in terms of sales.
Chinese smartphone maker Xiaomi has entered the competitive electric vehicle (EV) market in China and quickly become the eighth largest EV company in the country. In April, Xiaomi sold over 7,000 units of its first car, the SU7. This move further intensifies the competition in China's largest automotive market, where companies are already engaged in a fierce price war due to weakening demand. Xiaomi is already a well-known brand in China, with a strong presence in the smartphone and home appliance sectors. The company has set a target of delivering over 100,000 electric cars this year, equating to an average monthly sales target of 11,618 units for the remainder of the year. Xiaomi's entry into the EV sector follows other new players such as Nio and Xpeng, who are also focusing on electric vehicle production. The market is already saturated with various new companies and sub-brands of established automakers, increasing the competition in China's electric vehicle space.