Tesla Inc will shorten shift several hours at its Shanghai manufacturing facility and has delayed on-boarding of new team at its most productive plant, according to a report by Bloomberg Information, sending shares down about 2% on Thursday.
The factory in China will shorten shifts by about two hrs as early as Monday, the report added, citing resources familiar with the make any difference.
Tesla’s Shanghai plant is grappling with elevated stock concentrations amid slowing desire in China’s automobile marketplace.
Continue to, the plant recorded highest monthly revenue of additional than 100,000 cars in November.
The EV maker did not immediately respond to a Reuters ask for for comment.