Tesla in Turmoil: Layoffs, Canceled Projects, and Executive Exit Raise Concerns

• Tesla shares fell to lowest close in a year amid layoffs and canceled projects • Layoffs hit service centers, China sales staff hard; 140 engineers cut in U.S. • Tesla canceled $25,000 Model 2 project to focus more on robotaxis • Key executive Drew Baglino, who led Model 2 efforts, departed company • Analysts concerned pivot to robotaxis over cheaper EV adds risk to growth story