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After nearly seven decades, the Kingdom of Saudi Arabia plans to end its sponsorship rule for foreign w
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Tesla said on Friday it would cut thousands of jobs to rein in costs as it plans to increase production of lower-priced versions of its crucial Model 3 sedan, sending its shares down as much as 10 per cent.The company, which has struggled to achieve long-term profitability and keep a tight lid on expenses, also said it expects fourth-quarter profit to be lower than the preceding quarter.Chief Executive Officer Elon Musk said the need for lower-priced versions of Model 3 will become even greater from July, when the US tax credit again drops in half, adding $1,875 to the car s price
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