Tesla Cuts China Car Output Amid Slowing EV Sales
TL;DR Summary
Tesla has reduced production at its Shanghai plant for the Model Y and Model 3 due to slowing electric vehicle sales in China and increased competition. The company instructed employees to work five days a week instead of 6 1/2, but the production lines remain on two 11.5-hour shifts per day. Tesla's stock slumped as much as 3.9% before regular trading on Friday. The decline in shipments comes amid slowing demand for electric cars in major regions, including China, the US, and Europe.
- Tesla Trims Car Output in China as EV Sales Growth Slows Yahoo Finance
- Tesla Falls On China Production Cut As Deliveries Miss Looms Investor's Business Daily
- Tesla trims output of cars in China amid slower EV sales growth, Bloomberg reports Reuters
- Tesla stock drops on report it slashed China factory output By Investing.com Investing.com
- Tesla Stock Is Falling. Demand Is the Problem. Barron's
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