【Sales growth slows, competition intensifies Tesla reportedly cuts car production in China】

According to data from Jinshi on March 22, sources revealed that Tesla has reduced the production of electric cars at its China factory due to weak growth in new energy car sales and fierce market competition. Earlier this month, Tesla instructed employees at the Shanghai factory to reduce the production of Model Y and Model 3, working 5 days a week instead of the usual 6 and a half days. There is no clear latest information on when normal production will resume. Tesla is facing increasingly fierce competition in China, with the manufacturer's shipments down year-on-year in the first two months of 2024. At the same time, demand for electric cars in other major regions such as the United States and Europe is also slowing down. A source said that some production lines at Tesla's Shanghai factory, including the battery workshop, will face longer shutdowns. Tesla has informed employees and some suppliers to prepare for extending the production restrictions until April.