Dec 8 (Reuters) – Tesla Inc (TSLA.O) will shorten shift hours at its Shanghai manufacturing facility and has delayed on-boarding of latest workers at its best plant, in keeping with a report by Bloomberg Information, sending shares down about 2% on Thursday.
The manufacturing facility in China will shorten shifts by about two hours as early as Monday, the report added, citing sources accustomed to the matter.
Tesla’s Shanghai plant is grappling with elevated stock ranges amid slowing demand in China’s auto market.
Nonetheless, the plant recorded highest month-to-month gross sales of greater than 100,000 vehicles in November.
The EV maker didn’t instantly reply to a Reuters request for remark.
($1 = 6.9735 Chinese language yuan)
Reporting by Akash Sriram in Bengaluru; Modifying by Sherry Jacob-Phillips
Our Requirements: The Thomson Reuters Trust Principles.
