Tesla to Extend the Production Halt at Shanghai Plant for Another Day

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An aerial view of Tesla’s Shanghai Gigafactory

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Xiaolu Chu/Getty Images

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Tesla will extend the suspension ofproduction at its Shanghai factory through at least Friday because of the city’s Covid lockdown, said reports from Bloomberg and Reuters.

The suspension began Monday and was expected to run through Thursday following a city-wide surge in covid cases that prompted officials to implement sweeping restrictions.

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The lockdown of the eastern half of Shanghai was supposed to be lifted early on Friday, April 1. But according to Reuters, the lockdown is now expected to end Saturday, April 2. Reuters cited an internal notice that it had seen.

The Tesla factory is in the eastern part of the city.

The Shanghai facility is a key plant providing cars for the domestic Chinese market as well as exports to Europe, including Germany. The plant shut for a couple of days earlier in March because of parts shortages.

The halt at the plant could hit first-quarter deliveries. Tesla is expected to deliver between 310,000 and 320,000 vehicles in the first quarter of 2022, up from about 309,000 deliveries in the fourth quarter of 2021.

Barron’s asked Tesla (ticker: TSLA) via email whether it could confirm the plant closure but has yet to receive a reply.

Tesla was rising 0.6% to $1,100 in premarket trading.

Write to Joe Woelfel at [email protected]

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Credit: www.marketwatch.com /

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