AutoBeta(AutoBeta.net)04/10 Report--

The resumption of production and rapid recovery of business in China were affected by the overall shutdown of operations in the United States and globally, and Tesla employees in China were also affected. Tesla recently announced a pay cut for all employees. The pay cut plan will last until the end of the second quarter. All employees will tide over the difficulties together, including the highest pay cut of 30% for executives in China.

According to foreign media reports, Tesla announced the launch of a pay cut plan through internal emails. The specific pay cut plan is as follows: in the United States, the salary reduction ratio for employees in vice president and above positions is 30%, the salary reduction ratio for employees at director level and above is 20%, and other employees will be reduced by 10%.

Meanwhile, employees who cannot work from home and are not assigned to key positions on site will be required to take time off without pay, but will still receive medical benefits and unemployment benefits, roughly equivalent to normal wages.

At present, China has fully resumed work and all businesses have resumed in an orderly manner. However, due to the impact of global business, Tesla employees in China will also participate in the salary reduction plan. Tesla China said that its global vice president and director-level employees in China "voluntarily" took pay cuts and stayed consistent with its US headquarters.

The specific plan is that Tesla China's global vice president will pay 30%, director level will pay 20%, and the salary of other employees in China will remain unchanged at present.

Tesla China said it would do its best to ensure that the front-line team was not affected and that existing businesses and production in China would continue as planned.

Tesla's superplant in Shanghai, China, was shut down by the epidemic and resumed production on Feb.10, with domestic Model 3 production rising to 3000 vehicles a week. Tesla's vice president of external affairs Tao Lin said Tesla's Shanghai super factory is currently at full capacity and will accelerate its goal of producing 150,000 vehicles by 2020.

Tesla also plans to increase annual production capacity to 250,000 vehicles in the second phase of Tesla's Shanghai plant on the premise of achieving full localization of parts supply by the end of the year.

It is worth noting that the Shanghai plant is currently Tesla's only factory still operating in the world. As the epidemic continues to spread, Tesla's factories in the United States have been completely shut down, and there is still no specific time plan for resumption of work.

At present, the epidemic situation in the United States is getting more and more serious, and it has become the country with the largest cumulative number of confirmed cases in the world. According to the epidemic data released by Johns Hopkins University in the United States, as of April 10, Beijing time around 14:00, the United States has been diagnosed a total of 466033 cases, cumulative death cases for 16690 cases.

The latest data shows Tesla produced nearly 103,000 electric vehicles in the first quarter of 2020, up 33% year-on-year, delivering about 88,400 electric vehicles, which is Tesla's best first-quarter performance ever.

Tesla sold 3563 vehicles in January, 3900 in February and 10160 in March, according to data released by the association. The delivery data in March also set the company's highest monthly sales record in China.

Tesla's revenue in China was $2.979 billion in 2019, up 69.55% from $1.757 billion in 2018. Tesla's revenue in the US market during the same period was US $12.653 billion, down 15% year-on-year. Based on the continuous impact of market demand and epidemic situation, Tesla's business in China is expected to grow rapidly this year, while its business in the United States will be greatly affected.

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