CHINA-ECONOMY: TESLA SUSPENDS PRODUCTION OF ELECTRIC CAR AT ITS FACTORY IN SHANGHAI
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Tesla Inc. suspended production at its plant on the outskirts of Shanghai, according to Caixin news magazine (May 8) quoting people familiar with the matter, bringing to a halt all of the company’s vehicle manufacturing globally. The electric-car maker informed factory workers who were supposed to return to work on May 6 after China’s five-day Labor Day break that their holiday would be extended and they would return as soon as May 9, according to the people, who asked not to be identified because the information isn’t public. The reason for the abrupt halt wasn’t immediately clear. Chinese technology news site 36kr reported it was because of component shortages. While Tesla’s only car factory outside the U.S. is expecting delays in receiving parts for its Model 3, it also faces problems with a crucial piece of manufacturing equipment that’s being fixed, according to the people.
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