Tesla Inc will shorten shift hours at its Shanghai manufacturing facility and has delayed on-boarding of new workers at its most productive plant, in accordance to a report by Bloomberg Information, sending shares down about 2% on Thursday.
The factory in China will shorten shifts by about two hours as early as Monday, the report additional, citing resources familiar with the make a difference.
Tesla’s Shanghai plant is grappling with elevated stock concentrations amid slowing desire in China’s auto sector.
Continue to, the plant recorded optimum regular monthly revenue of far more than 100,000 cars and trucks in November.
The EV maker did not right away respond to a Reuters ask for for remark.