From Investor’s Business Daily:

Tesla is reducing production at its Shanghai factory amidst slowing EV demand in China. The company is cutting production to five days a week from 6.5 days due to slowing EV growth in China and a potential Q1 delivery miss. Tesla is also raising vehicle prices, signaling possible future demand challenges. The move comes as Tesla faces competition from Chinese EV companies like BYD, Nio, and Li Auto, impacting its China-made vehicle deliveries. Tesla stock fell early Friday, with analysts cutting price targets and delivery forecasts, signaling potential earnings declines in 2024.



Read more at Investor’s Business Daily: Tesla Stock Falls On China Production Cut As Deliveries Miss Looms