10:50 AM EDT, 04/24/2024 (MT Newswires) -- Tesla (TSLA) expects to book over $350 million in employee termination costs for the layoff plan that it has launched, the EV maker said Wednesday in a regulatory filing Wednesday with the US Securities and Exchange Commission.

"In April 2024, we initiated certain restructuring actions in order to reduce costs and improve efficiency," Tesla said in the filing. "As a result, we expect to recognize in excess of $350 million of costs primarily related to employee termination expenses in the second quarter of 2024."

Separately, Tesla has priced the performance version of its Model 3 car at 335,900 renminbi ($46,356) in China, according to its website in the country.

The estimated delivery date of the vehicle is Q3 2024, the company said.

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