The notion of Tesla’s (NASDAQ:TSLA) plans regarding its Shanghai facility has been a matter of debate for some time. Seemingly contradictory facts emerge almost daily, leading some to pivot between disaster and rapture.
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However, the company finished more than 3% higher in today’s trading after reports emerged regarding Tesla’s Shanghai operations and just what they did month-over-month.
Reports from the China Passenger Car Association revealed that Tesla’s Shanghai plant sent out 37,798 vehicles. Meanwhile, throughout China, Tesla delivered 62,493 vehicles in total.
Moreover, Tesla even managed to export vehicles from China; the reports noted the company shipped out 100,291 China-made vehicles in November. That represented a new one-month high for Tesla.
Despite these numbers, though, there were signs of trouble at the Shanghai plant. The 37,798 vehicles sent out from the Shanghai plant represented a 30.7% drop over last month’s figures.
This may prove to be a broader, systemic problem; reports noted that some of China’s major electric vehicle companies cut production in November as well. However, it wouldn’t identify just which companies actually throttled down on their production lines.
Demand in China may be souring, but the issue remains whether it’s demand for Teslas or demand for electric vehicles, in general, that’s losing ground.
Overall, Wall Street analysts have a consensus price target of $303.72 on TSLA stock, implying over 69% upside potential, as indicated by the graphic above.
