$Tesla Motors(TSLA)$
Tesla cuts Model Y production in China
Concerns are rising in the EV market after Tesla announced it was suspending production of its Model Y SUV in its Shanghai factory. The news has raised concerns over EV demand in China as the Model Y is Tesla’s most popular vehicle in the Chinese market. The cut in production represents a 30% reduction in output and is unusual despite the time of year. Tesla has previously cut production in November by 20%.
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