Market News

Tesla’s (NASDAQ:TSLA) Shanghai Unit is Ramping up…Fast

Tesla’s (NASDAQ:TSLA) production line upgrade at its Shanghai unit is paying off as its August vehicle deliveries in China at 76,965 surged by ~173% over July, according to Cnevpost.

With rising capacity utilization, the plant’s production is surging and the massive rise in deliveries comes fresh on the heels of the company slashing the waiting period for the delivery of its Model 3 and Model Y vehicles in the country.

Moreover, according to CPCA, Tesla’s China exports have risen for three consecutive months now from 968 in June to 42,463 in August indicating the company is swiftly coming out of lockdown woes and achieving the ramp-up despite power supply challenges.

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