Chinese president supervises workers, Tesla’s U.S. plant capacity triples

Reporter/Gao Xin Zhenxiang

Reuters reported on the 24th that according to an internal notice and two people familiar with the matter, Tesla’s Shanghai factory had suspended production that day. The factory’s morning shift was cancelled, and the workers were told that they could start taking vacations. The factory did not explain the specific reasons. That’s slightly ahead of previous plans to shut down most work at the plant in the last week of December. Reuters previously disclosed that Tesla plans to suspend the production of Model Y models at the plant from the 25th of this month to January 1st next year.

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According to reports, the suspension of production at Tesla’s Shanghai factory is catching up with the sharp increase in new coronary pneumonia cases in China. At the same time, Tesla is also facing the problem of increasing inventory. As Tesla’s second largest market in the world, the Chinese market is facing downward pressure. According to sources, in the past week, the production capacity of Tesla’s Shanghai factory was mainly used to produce export models.

Reuters added that suspending production for the year-end holidays is not the usual practice at Tesla’s Shanghai factory. The factory was operating normally in the last week of December last year. However, the U.S. financial magazine “Barron’s Weekly” stated that auto companies usually take a break during the holidays, and cited the example of the suspension of production at some factories of General Motors and Ford in the United States.

Tesla China said in an interview with a reporter from the Global Times on the 25th: “The Shanghai plant will still maintain efficient production and excellent output in 2022. Vehicle production will be carried out as planned for the annual production line maintenance next week (that is, this week).” At the same time, after a year of hard work, the workers also took a rest during the maintenance period of the production line. The workshops such as charging piles have not stopped, and the media’s statement that the factory has stopped production is not entirely accurate.”

In the past three months, Tesla’s stock price has been “falling and falling”. CEO Musk’s actions after acquiring the social media platform Twitter and concerns about a slowdown in demand for electric vehicles have put the company’s stock price under severe pressure. Singapore’s “Business Times” pointed out that Tesla is going through an ugly December. According to US media, in December this year alone, Tesla’s stock price has plummeted 36%, which will also be the worst month for Tesla’s stock performance.

But there are also signs that Tesla is continuing to expand in the Chinese market. Tesla recently announced that it will build the 10,000th super charging pile in China on the 26th of this month. In August of this year, the 1 millionth vehicle of Tesla’s Shanghai factory rolled off the assembly line. It took less than 3 years for Tesla’s Shanghai factory from the time the factory was built and put into production to when one million vehicles rolled off the assembly line.

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