Tesla Plans 2-Week Suspension of Most Shanghai Production for Upgrade - Memo

Reuters2022-06-22

SHANGHAI, June 22 (Reuters) - Tesla Inc plans to suspend most production at its Shanghai plant in the first two weeks of July to work on an upgrade of the site, according to an internal memo seen by Reuters.

After the upgrade, the U.S. automaker aims to boost the plant's output to a new record high by the end of July to get closer to its goal of producing 22,000 cars per week in Shanghai, according to the memo.

A two-month-long COVID lockdown in Shanghai delayed Tesla's original plan of reaching production of 8,000 Model 3s and 14,000 Model Ys per week at the Shanghai plant by mid May, two people familiar with the matter told Reuters previously.

The Shanghai factory has been churning out 17,000 units of Model 3 and Model Y cars per week since mid June, according to previous memos seen by Reuters.

Tesla did not immediately respond to a request for comment.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
32