#Tesla

Tesla has reversed a decision to close all its stores and move to an online-only sales model, the company has announced, pending the results of a further review on the usefulness of physical locations.

Tesla Inc said on Thursday it would not be profitable in the first quarter, as it offered for the first time a $35,000 version of its Model 3 sedan and said its global sales would now be online-only, steps designed to increase demand and cut overhead costs for the electric vehicle maker.

Tesla Inc and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company’s chairman but remain as chief executive, under a settlement that caps a tumultuous two months for the carmaker.

Panasonic Corp said it was unable to determine how much of the cobalt used in batteries it makes for Tesla cars comes from Cuba, a country subject to U.S. sanctions, and that it had suspended relations with a Canadian supplier as a result of its concerns.

Shares in Tesla Inc were down 2 percent in trading before the bell on Tuesday after the luxury electric vehicle maker said its planned ramp-up for the new Model 3 mass-market sedan faced production bottlenecks.

Engineers from across Mexico streamed into a cramped hotel lobby in the industrial city of Monterrey for a chance of a job with the U.S. electric vehicle maker Tesla Inc, which is looking south of the border for talent in short supply at home.

Tesla Inc is recruiting engineers from Mexico to work on robotics and other automated equipment at its California factory, according to LinkedIn postings viewed by Reuters, part of a hiring push to ready the plant for mass production of the upcoming Model 3.

Mobileye broke ties with Tesla Motors because the Silicon Valley firm was “pushing the envelope in terms of safety” with the design of its Autopilot driver-assistance system, Mobileye’s chairman said on Wednesday.