WATCH: Tesla plans to keep its Shanghai plant below maximum output in a rare move for the U.S. maker of electric vehicles
plans to hold production at its Shanghai plant at about 93% of capacity through the end of year, despite a recent upgrade, two people with knowledge of the matter said, in a rare move for the U.S. maker of electric vehicles.
However, the company's move comes at a time of growing competition from domestic manufacturers of electric vehicles in a sharply weakening economy, as consumption falls amid strict COVID-19 curbs. Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song
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