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