Tesla celebrated the 12th anniversary of the company going public on Wednesday with CEO Elon Musk still at the helm.
On June 29, the automaker began selling its shares for $17 apiece. Its share is down nearly 2% in the last 24 hours, at $685.47 as of this report. At the time, the company offered 11,880,600 shares and left 1,419,400 shares to selling stockholders.
In 2010, Tesla still hadn’t released its first Model S for purchase. Since then, the company released the Model X in 2015, Model 3 in 2017, and Model Y in 2020. Meanwhile, its Cybertruck has yet to announce a release date, though a humanoid robot prototype is set to be unveiled Sept. 30.
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This anniversary comes amid layoffs in Tesla’s San Mateo, California, facility. Almost 200 employees on its autopilot team were laid off, while the rest were transferred to a different location. It was part of Musk’s reported effort to decrease the company’s jobs by 10%. The CEO cited a “super bad feeling” about the economy in a companywide email.
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Tesla also recently stopped production at its 210-acre Tesla Giga Shanghai factory in order to give it an unknown upgrade. The factory produced 17,000 Model 3 and Model Y cars per week. Both models were the top two American-made cars in 2022.
