Tesla Shanghai Plant Remains Closed Amid Lockdown
(Bloomberg) -- Tesla Inc.'s factory in Shanghai will remain closed on Monday, people familiar with the matter said, after a media report that the company planned to resume production at the facility on April 4.
The electric-vehicle maker told employees on Sunday that existing Covid restrictions remained in place, and asked staff to stay home and abide by community orders, according to an emailed company memo reviewed by Bloomberg. Tesla has extended the shutdown of its Gigafactory a few times in the past week as Shanghai puts its 25 million residents in some form of lockdown.
Reuters reported earlier that Tesla plans to resume production in the factory southeast of downtown Shanghai from Monday as some workers begin to return from a lockdown. The eastern half of the mega Chinese city -- where the Tesla factory is located -- remains under tight movement restrictions despite the end of a four-day sweeping lockdown Friday morning.
The city will start a new round of mass testing on Monday, according to local authorities. More than 8,000 new Covid infections were reported in the city on Saturday, including 7,788 asymptomatic infections.
Tesla's billionaire Chief Executive Officer Elon Musk said in a tweet that China's Covid Zero policies and general supply-chain interruptions made the first quarter “exceptionally difficult,” after the company delivered record amount of cars.
©2022 Bloomberg L.P.
With assistance from Bloomberg
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
