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Tesla trims output of cars in China amid slower EV sales growth, Bloomberg reports

Published 03/22/2024, 05:52 AM
Updated 03/22/2024, 06:01 AM
© Reuters. FILE PHOTO: A Tesla car is driven past a store of the electric vehicle (EV) maker in Beijing, China January 4, 2024. REUTERS/Florence Lo/File Photo
TSLA
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(Reuters) - Tesla (NASDAQ:TSLA) has reduced its car production at its plant in China, Bloomberg News reported on Friday, as the U.S. electric vehicle-maker grapples with slow demand and strong competition in the market.

The company earlier in March told employees at its Shanghai factory to lower output of both the Model Y sport utility vehicle and Model 3 sedan — the two types it makes in China — by working five days a week instead of the usual 6-1/2 days, the report said, citing people familiar with the matter.

Tesla did not immediately respond to a Reuters request for comment.

Latest comments

Competition in the new energy vehicle field is fierce, but this is an important positive factor for the charging sector, because charging demand will increase in the long term. As a global leader in charging, NAAS (NASDAQ: NAAS) is expected to be one of the biggest beneficiaries. #NAAS
Love Rooters choice of verbs as they "report" on TSLA production.  First it was SLASH....then CUT.....and now TRIM
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