11:15 AM · 7 May 2020

BREAKING: Tesla suspends production at factory in China

According to a Bloomberg report, Tesla has suspended production at its factory near Shanghai, China. Production was expected to resume today after a 5-day long Chinese holiday but the start has been postponed to at least Saturday, May 9. There is no official reason behind the decision as news was not confirmed by the company yet. However, Chinese media explain the delay with component shortages.

Chinese factory helped Tesla (TSLA.US) report better-than-expected results for Q1 2020. Shares may find themselves under pressure after production was suspended. Source: xStation5

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