4:02 PM · 5 December 2022

Tesla plummets after media reports about possible production cuts 📉

According to unofficial Bloomberg reports, Tesla Inc. (TSLA.US) plans to cut production at its Shanghai factory, amid signs of potential problems with car demand in China, which is reportedly not meeting expectations.

According to reports, the above changes are expected to take effect as early as this week. The aforementioned decision could reduce production by about 20%, or to the capacity level at which the factory operated in October and November. Tesla's representative in China denies the above media reports. As for now shares are down 5,22%.Tesla, H1 interval. Source: xStation5

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