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Tesla to Build New Shanghai Factory for Megapack Battery

10Apr

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Technology

Tesla to Build New Shanghai Factory for Megapack Battery

[ad_1] Tesla Inc. will build a new battery factory in Shanghai, increasing investment in China at a time of brewing tensions between Beijing and Washington.Tesla will manufacture its Megapack large-scale energy-storage unit in the new facility, which adds to its factory for electric vehicles in Shanghai. The company led by Elon Musk, who is said to be visiting China this weekend, made the announcement at a signing ceremony for the project in Shanghai. Tom Zhu, Tesla's senior vice president of automotive, and Shanghai government officials including vice mayor Wu Qing attended, with Tesla Vice President Tao Lin signing the contract. Construction is scheduled to begin in the third quarter of this year and the plant will commence production in the second quarter of 2024, the company said in...

Tesla Falls on Plan to Cut Output of EVs at Shanghai Factory

[ad_1] Tesla Inc. plans to lower production at its Shanghai factory, according to people familiar with the matter. Tesla Inc. plans to lower production at its Shanghai factory, according to people familiar with the matter, in the latest sign demand in China isn't meeting expectations. The company's shares fell in early trading. The output cuts will take effect as soon as this week, said the people, who asked not to be identified because the information isn't public. They estimate the move could reduce production by about 20% from full capacity, which is the rate at which the factory ran in October and November. The decision was made after the automaker evaluated its near-term performance in the domestic market, one of the people said, adding that there's flexibility to increase output...

Tesla Set to Cut Shanghai Output in Sign of Sluggish Demand

[ad_1] The decision was made after Tesla evaluated its near-term performance in the domestic market. Tesla Inc. plans to lower production at its Shanghai factory, according to people familiar with the matter, in the latest sign demand in China isn't meeting expectations. The output cuts will take effect as soon as this week, said the people, who asked not to be identified because the information isn't public. They estimate the move could reduce production by about 20% from full capacity, which is the rate at which the factory ran in October and November. The decision was made after the automaker evaluated its near-term performance in the domestic market, one of the people said, adding that there's flexibility to increase output if demand increases. A Tesla representative in Chi...