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Tesla to halt Shanghai factory production amid COVID curbs, Bloomberg News reports

Stock Markets Mar 27, 2022 01:25PM ET

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Tesla to halt Shanghai factory production amid COVID curbs, Bloomberg News reports

© Reuters. FILE PHOTO: A truck transports new Tesla cars at its factory in Shanghai, China May 13, 2021. REUTERS/Aly Song/File Photo

(Reuters) - Tesla (NASDAQ:TSLA) Inc is planning to suspend production at its Shanghai factory for at least one day, Bloomberg News reported on Sunday, as China's financial hub said it would go into a lockdown in two stages to conduct COVID-19 testing.

Tesla's production in the plant will be halted on Monday, the report said, citing people familiar with the matter, adding that the electric car maker hasn't yet informed workers if it would extend the suspension beyond Monday.

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

Shanghai's municipal government said on Sunday that all firms and factories will suspend manufacturing or work remotely during the lockdown.

Earlier this month, Tesla had to halt production at the factory for two days as China tightened its COVID-19 restrictions. The company then said it was trying the best to keep production going at the factory.

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Comments (4)

Marco cuevas Mar 27, 2022 6:07PM ET

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Other automakers also have factories in china ...Why ni reporting.on those? Ohhhhh wait buy PUTS got it

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Sattar Langary Mar 27, 2022 5:48PM ET

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800 tomorrow...maybe

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Matt Villar Mar 27, 2022 2:47PM ET

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rip to the spy

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Dave Jones Mar 27, 2022 1:49PM ET

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expect markets to vault higher

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Tims Mopheme Mar 27, 2022 1:49PM ET

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What do you mean ?.. by friday can be all time high??

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