Reported 5 months ago
Tesla is reportedly reducing production of its Model Y vehicle at its Shanghai gigafactory due to concerns about weakening demand in the electric vehicle market, particularly in China where Tesla is facing a price war with competitors offering cheaper EVs. This production cut, estimated at around 20%, is seen as an effort by Tesla to align its supply with demand in the market. The move reflects the challenges Tesla is encountering in China amidst increasing competition and geopolitical tensions, as highlighted by Yahoo Finance's Brad Smith and Seana Smith in their discussion on the topic.
Source: YAHOO