Tesla’s shares fell in early trading on Monday following reports that the company will slash production of the Model Y from its Shanghai plant as the electric vehicle maker faces a slump in demand in China.
Last month, the Shanghai factoryAccording to the Reuters report, inventory levels at the Shanghai factory—which were upgraded earlier this year—have risen sharply while China faces an economic slowdown and slump in demand.
The Model Y crossover is a derivative of the Model 3 sedan and both cars are two of Tesla’s top-selling models globally.that Tesla was preparing to build a lower-cost version of the popular Model 3 in Shanghai starting next year.more than 40% of its global production capacity and 50% of the carmaker’s total profits.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla Stock Slumps After Company Reportedly Cuts Model Y Production From Shanghai PlantThe plan to cut production comes after delivered more than 100,000 from its Shanghai plant for the first time in November.
Read more »
Tesla cuts Dec Model Y output at Shanghai plant by more than 20% versus Nov - sourcesTesla 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.
Read more »
Tesla cuts Dec Model Y output at Shanghai plant by more than 20% versus Nov - sourcesThe electric vehicle (EV) giant plans to cut December output of the Model Y at its Shanghai plant by more than 20% from the previous month, sources said Monday.
Read more »
Tesla Model Y Vs Chevrolet Bolt EUV: Do They Even Compare?The Bolt EUV is arguably the best EV value today, and it seems people are simply overlooking it. The Model Y is way more popular, but it's also twice the price.
Read more »
France Plugins Take Record 24.4% - Tesla Model Y BestsellerFrance saw plugin electric vehicles take 24.4% of the auto market in November, with full electrics (BEVs) alone taking 15.2%.
Read more »
Tesla Model S Plaid Leaves Porsche Taycan Turbo S In the Dust in Drag RaceStarting from the bottom, now Tesla is here with beautiful electric cars that are not only useful but also unthinkably fast.
Read more »