Tesla (TSLA) stock drops on report it is reducing EV output at Giga Shanghai
Tesla’s (TSLA) stock dropped this morning due to a report that automakers are reducing their electric vehicle output at Gigafactory Shanghai because of lower demand.
Bloomberg says that Tesla removed one and a half day of work at Gigafactory Shanghai:
The US carmaker earlier this month instructed employees at its Shanghai facility to lower production of both the Model Y and Model 3 — the two vehicles Tesla makes in China — by working five days a week instead of the usual 6 1/2 days, the people said,…