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Tesla Inc. has again suspended production at its Shanghai plant, this time due to supply problems, Reuters reported Monday night.
Citing two people familiar with the matter, Reuters reported it is unclear when the supply-chain snag will be resolved and production of electric vehicles can resume.
Tesla “paused” production at the Shanghai factory in late March as the city of 25 million people went into a strict lockdown as COVID-19 cases rose. It didn’t reopen until late April, and reportedly attempted to ramp up production to make up for lost time. The plant also shut for a couple of days earlier in March due to COVID restrictions.
The auto maker is expected to release its April wholesale numbers for China in the coming days, and they’re expected to be sharply down due to the shutdown. The plant typically makes about 2,000 vehicles a day, according to data from the China Passenger Car Association.
Tesla shares
TSLA,
are down 25% year to date, compared to the S&P 500’s
SPX,
16% decline this year.
[ad_2]
Tesla Inc. has again suspended production at its Shanghai plant, this time due to supply problems, Reuters reported Monday night.
Citing two people familiar with the matter, Reuters reported it is unclear when the supply-chain snag will be resolved and production of electric vehicles can resume.
Tesla “paused” production at the Shanghai factory in late March as the city of 25 million people went into a strict lockdown as COVID-19 cases rose. It didn’t reopen until late April, and reportedly attempted to ramp up production to make up for lost time. The plant also shut for a couple of days earlier in March due to COVID restrictions.
The auto maker is expected to release its April wholesale numbers for China in the coming days, and they’re expected to be sharply down due to the shutdown. The plant typically makes about 2,000 vehicles a day, according to data from the China Passenger Car Association.
Tesla shares
TSLA,
are down 25% year to date, compared to the S&P 500’s
SPX,
16% decline this year.
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