Tesla Announces Layoffs As EV Momentum Slows Industrywide

• Tesla announcing layoffs of over 10% of its workforce due to financial troubles, aging product line, and stalled growth

• Broader EV industry also facing headwinds - EV sales slowing, automakers scaling back EV investments, startups laying off workers

• EV adoption may be hitting resistance moving from early adopter to mainstream buyer demographic

• Hybrid vehicles seeing a resurgence as EV momentum slows

• Tesla troubles reverberating through auto industry that has invested heavily in EVs based on Tesla's prior success