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Tesla reports decline in deliveries hurt by Chinas Covid shutdown Tesla reports decline in deliveries hurt by Chinas Covid shutdown
Monday, 04 Jul 2022 18:00 pm
Times of London News -  International News, Latest News, Breaking News,Sports, Business and Political News

Times of London News - International News, Latest News, Breaking News,Sports, Business and Political News

Tesla Inc delivered 17.9 percent fewer electric vehicles in the second quarter from the previous quarter, as China's Covid19-related shutdown disrupted its production and supply chain.

The world's biggest electric car maker said on Saturday that it delivered 254,695 vehicles in the April to June period, compared with 310,048 vehicles in the preceding quarter, ending a nearly two-year-long run of record quarterly deliveries.

A resurgence in Covid-19 cases in China had forced Tesla to temporarily suspend production at its Shanghai factory and also affected suppliers' facilities in the country.

Tesla is ramping up production at the Shanghai factory with the easing of the Covid-19 lockdown, which will help boost deliveries in the second half.

early in june, Chief Executive Officer Elon Musk told executives that he had a "super bad feeling" about the economy and needed to cut about 10% of staff at the electric car maker.

Musk has said demand for Tesla vehicles remains strong, but supply-chain challenges still remain.