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In this March 31, 2016 file photo, Tesla Motors unveils the new lower-priced Model 3 sedan at the Tesla Motors design studio in Hawthorne, Calif. Tesla, recognizing as imperative its ability to produce a cheaper electric car, told employees Friday, Jan. 18, 2019 that it must cut 7 percent of its workforce. Tesla’s cheapest model right now is the $44,000 Model 3, and it needs to broaden its customer base to survive. (Justin Pritchard/AP)

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Tesla will cut 7 percent of its workforce as it tries to lower prices and break out of the niche-car market to produce an electric vehicle that more people can afford.

January 19, 2019