SHANGHAI: Tesla plans to run a reduced production schedule at its Shanghai plant in January, extending the reduced output it began this month into next year, according to an internal schedule reviewed by Reuters. Tesla will run production for 17 days in January between Jan 3 to Jan 19 and will stop electri
SHANGHAI: Tesla plans to run a reduced production schedule at its Shanghai plant in January, extending the reduced output it began this month into next year, according to an internal schedule reviewed by Reuters.
Tesla did not specify a reason for the production slowdown in its output plan. It was also not clear whether work would continue outside the assembly lines for the Model 3 and Model Y at the plant during the scheduled downtime. It has not been established practice for Tesla to shut down operations for an extended period for Chinese New Year.Tesla shares fell nearly 8 per cent on Tuesday to their lowest in over two years.
Tesla's latest production cuts at Shanghai come amid a rising wave of infections after China stepped back from its zero-COVID policy earlier this month. That move has been welcomed by businesses although it has disrupted manufacturing operations outside Tesla. Brokerage China Merchants Bank International said in a report issued on Tuesday that Tesla average daily retail sales in China from Dec 1 through Dec 25 were down 28 per cent from a year earlier. It said Tesla recorded 36,533 retail sales in China from Dec 1 through Dec 25.
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