Tesla ($TSLA) investors are riding an optimistic week as the company announced it was granted permission to launch mass production in China, the largest EV market in the world.
Tesla is the latest example among a growing number of companies that reduced - or simply never grew - job postings in China in the earliest stages of the trade war. Now, companies like it, and Nike, Micron and Nvidia, are ramping up hiring and production plans in China, and these changes are showing up in hiring data.
Tesla jobs in China, for instance, are soaring.
In just the past month, Tesla jobs in China shot up from 355 to 474, an increase of 33.5%. Once an ardent supporter of US President Donald Trump, who has been an advocate of US companies moving jobs back home and away from China as implied by tarrifs, it appears that Tesla CEO Elon Musk is tuning him out.
Meanwhile, Tesla announced it would begin manufacturing vehicles in Germany with a new factory near Berlin.
Jobs there have seen a very recent rise after near stagnation, and look poised to accelerate with the largest number of jobs added in the past week alone.
This all said, none of this means that Chinese and German jobs are affecting Tesla hiring stateside. In fact, hiring in the US has been on the rise since June.
This wasn't always the case — just six months ago, hiring in the US for Tesla had been on a steady decline.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Tesla's growing worldwide presence
- Tesla job openings decline in the U.S. as hiring in China grows
- Chinese EV maker Nio might be running out of juice soon
