Tesla shelves plan to build second assembly line at Shanghai Gigafactory amid weak demand for premium electric vehicles in China
8 days ago
Tesla confirmed that there are no plans to increase capacity at its Shanghai Gigafactory , as the US carmaker grapples with weakening demand in the world’s largest electric vehicle (EV) market.
“Production and delivery challenges in 2022 were largely concentrated in China,” the Texas-based EV giant said in a statement after reporting record quarterly profit for the three months ended December 31.
“Since our Shanghai factory has been successfully running near full capacity for several months, we do not expect meaningful sequential volume increase in the near term.”
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