Tesla no longer plans to increase capacity at Shanghai Gigafactory, SCMP reports

Tesla confirmed it no longer has plans to increase the capacity at its Shanghai Gigafactory after seeing weakening demand in the world’s largest electric vehicle market, Daniel Ren of South China Morning Post reports. In its most recent quarterly results, Tesla said most of its product and delivery challenges in 2022 were "largely concentrated in China" and it did not expect "meaningful sequential volume increase in the near term" at its Shanghai Gigafactory, the company said, according to the Post. The statement also validated a previous report from the Post about Tesla’s decision to put off building another assembly line at its Gigafactory 3 due to a lackluster sales outlook. Reference Link