Tesla's stock fell 3% amid rumors of China production cuts and potential underwhelming deliveries.
Tesla's stock fell over 3% in premarket trading on Friday as rumours of production cuts in China resurfaced, raising concerns about potentially underwhelming deliveries. Earlier this month, Tesla allegedly instructed employees at its Giga Shanghai facility to reduce production of Model Y and Model 3 EVs, shifting from the usual 6.5-day workweek to a five-day schedule. The news comes at a critical time as Tesla prepares to announce its first-quarter sales in less than two weeks.
March 22, 2024
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