Tesla Halts Shanghai Plant Production Due to Covid-19 Restrictions

Tesla (NASDAQ: TSLA) has reportedly decided to halt production at its Shanghai plant for several days this week, after the local government ramped up Covid-19 restrictions following an increase in infections in the region.

According to Bloomberg which cited people familiar with the situation, production at Tesla’s Shanghai plant was paused on Monday, after government officials decided to lock down half of the city in order to undergo mass public testing for Covid-19 following a sudden outbreak of the virus. The region east of the Huangpu River— which is where Tesla’s gigafactory is located, will go into lockdown for four days starting Monday.

Tesla has yet to notify its employees whether or not production would be shut down for more than the one day, but some workers will not be able to make it to work regardless because they are subject to isolation where they live. Musk was already forced to halt production at his Shanghai plant for two days earlier this month in an effort to cooperate “with the government’s order for Covid tests and relevant pandemic prevention measures.”


Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Tesla Posts Record Financials In Q1 2022: US$18.76 Billion In Revenue, US$3.32 Billion Net Income

Tesla (Nasdaq: TSLA) shares surged following the release of its Q1 2022 financials on Wednesday....

Thursday, April 21, 2022, 09:28:00 AM

Tesla Reports 308,600 Vehicle Deliveries For Q4 2021

Tesla Inc (NASDAQ: TSLA) this morning oddly released its production and delivery figures for the...

Sunday, January 2, 2022, 11:34:38 AM

New Tesla Recall Over Rear Light Issue May Affect Over 320,000 Cars

Tesla Inc (NASDAQ: TSLA) is recalling about 321,000 2023 Model 3 and 2020-2023 Model Y...

Monday, November 21, 2022, 03:49:00 PM

Kontrol Energy Begins Initial Production Of BioCloud Units

Kontrol Energy Corp (CSE: KNR) has begun the initial production runs of its BioCloud units....

Thursday, December 3, 2020, 07:17:07 AM

Global Economy Forecast to Contract by 5.6% in 2020 Due to Pandemic

The coronavirus pandemic has plunged the global economy into the worst recession in over 80...

Tuesday, December 15, 2020, 11:57:00 AM