HomeAutoCoronavirus Outbreak: Tesla to shut down Shanghai factory after China order

Coronavirus Outbreak: Tesla to shut down Shanghai factory after China order

Reader's Pick

Amind of the recent outbreak of novel coronavirus in the country, The Chinese government has ordered the American electric automaker, Tesla, to shut down the shanghai factor till Feb 9.

In an interview with The Verge, Zach Kirkhorn, Chief of Finance, Tesla said, “The government of China has asked the companies to remain closed till February 09, 2020. Which will notably delay the production of Model 3 by one to the one-and-a-half week in the country.”

Tesla which began the delivery of its first batch of electric cars manufactured in its Shanghai facility at the end of 2019, and also started the production of Model 3 in China, is now expecting a dip in its revenue and deliveries with the government close down the order.

Kirkhorn, further added, “As the Shanghai factory produces a small quarterly profit. The company, therefore, doesn’t foresee any big financial hit from the Shanghai-produced Model 3.”

close

Stay on top of Budget 2023 with our newsletter

- Advertisement -

We don’t spam! Read our privacy policy for more info.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Budget 2023 Wishlist: Expectations from Bikanervala, CEF Group & Indian Auto LPG Coalition

The upcoming budget for 2023-24 has sparked interest and anticipation among dif...

Telecom sector has high expectations from the 2023 budget: Gaurav Gandhi, CEO of Echelon Edge

Speaking on the Union Budget 2023 expectations, Gaurav Gandhi, Founder & CE...

Union Budget 2023: What Are the Pre-Budget Expectations for the FinTech and Digital Lending Sector?

As the poster child of India’s digital growth story, the FinTech sector is pois...