Tesla Shanghai plant

[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...

[ad_1] Tesla plans to cut December output of the Model Y at its Shanghai plant by more than 20%. Tesla plans to cut December output of the Model Y at its Shanghai plant by more than 20% from the previous month, two people with knowledge of electric vehicle (EV) giant's production plan said on Monday. Tesla did not immediately respond to a request for comment on the planned cut, first reported by Bloomberg, and Reuters was unable to immediately ascertain the reason for reduction. Inventory levels at Tesla's Shanghai plant rose sharply after it completed an upgrade of the manufacturing facilities in summer, with EV inventory increasing at its fastest pace ever in October. The U.S. automaker has cut prices for Model 3 and Model Y cars by up to 9% in China and offered insurance inc...

Tag: Tesla Shanghai plant

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

Tesla cuts Dec Model Y output at Shanghai plant by more than 20% versus Nov – sources