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Tesla cuts Model Y production for December at Shanghai factory


Tesla plans to cut December production of the Model Y at its Shanghai plant by more than 20% from last month, two people with knowledge of the electric vehicle (EV) giant’s production plans said. said on Monday.

Via:
Reuters

|
Update on:
December 5, 2022, 15:31 pm

Tesla Model Y
Tesla Model Y

Tesla did not immediately respond to a request for comment on the cuts, which were first reported by Bloomberg, and Reuters could not immediately determine the reasons for the cuts.

Inventories at Tesla’s Shanghai plant surged following the completion of upgrades to production facilities over the summer, with electric vehicle inventories growing at their fastest rate ever in October.

Also read: You can get a free Tesla Model Y with this $1.1 million property

American car company discount sample 3 and Model Y cars increased by up to 9% in China and provided insurance incentives, helping to boost China-made car sales in November by 40% compared to October and up by 89.7% compared to a year ago.

Tesla delivered 100,291 Chinese-made electric vehicles in November, its highest monthly sales since the Shanghai factory opened in late 2020, Xinhua reported on Monday citing Tesla.

Tesla’s high inventory levels in Shanghai come as the Chinese auto market faces slowing demand and disruption to local supply chains.

Uncertainty over when China will make a significant move to relax its “dynamic no covid” strategy has clouded the outlook for the world’s largest auto market, although some of its cities China has taken steps to ease some of the restrictions following protests in recent weeks.

Globally, Tesla has planned to ramp up production of Model Y and Model 3 electric vehicles in the fourth quarter as new factories in Austin, Texas and Berlin ramp up production, Reuters reported in September.

The company is planning to start production of an improved version of the Model 3 in the third quarter of 2023 in Shanghai, aiming to cut production costs and increase the appeal of the five-year-old electric vehicle.

First published date: December 5, 2022, 3:30pm IST

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