Tesla to reduce Shanghai output amid slugglish demand, Bloomberg reports

Tesla intends to reduce vehicle output at its Shanghai facility by about 20% from full operating capacity as soon as this week, Bloomberg reports, citing people familiar with the matter. The production cut is a reflection of demand not meeting expectations, and the decision was made after the company gauged its near-term performance in China, though there is some flexibility to bring back capacity if demand increases, the report states. Reference Link