Tesla cuts production at China plant - report

22nd Mar 2024 11:27

(Sharecast News) - Tesla has reportedly cut production at its plant in China amid sluggish growth in electric vehicle sales and intense competition in the world's biggest auto market.

Bloomberg cited people familiar with the matter as saying that earlier this month, the US carmaker instructed employees at its Shanghai facility to lower production of both the Model Y and Model 3 - the two vehicles Tesla makes in China - by working five days a week instead of the usual 6 1/2 days.

The production lines run on two 11.5-hour shifts per day, which remains unchanged. Output has been trimmed starting earlier this month, sources told Bloomberg, and staff haven't been given clear indication of when production will go back to normal.

Tesla representatives didn't respond to requests for comment from Bloomberg.