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Expansion delayed at Tesla's Shanghai gigaplant

By Michael Elkins Electric vehicle giant, Tesla Inc. (NASDAQ:TSLA) has reportedly delayed its plans to expand the company's Shanghai factory according to a report by Bloomberg on...
Expansion delayed at Tesla's Shanghai gigaplant © Reuters Expansion delayed at Tesla’s (TSLA) Shanghai gigaplant
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By Michael Elkins

Electric vehicle giant, Tesla Inc. (NASDAQ:TSLA) has reportedly delayed its plans to expand the company's Shanghai factory according to a report by Bloomberg on Thursday, citing people familiar with the matter. The reason for the delay is reportedly connected to Elon Musk's satellite internet system, Starlink.

The Bloomberg report claimed that some officials from China's central government had expressed concerns about a US company with connections to Elon Musk's Starlink having such a large presence in the country.

Tesla had planned to start work on expanding the plant as part of a strategy to more than double its production capacity in China to meet growing demand for its cars in the country and export markets. The expansion would have helped the company to produce up to 2 million cars per year at the Shanghai plant.

Shares of TSLA are up 0.16% in pre-market trading on Thursday.

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29-05-2023 15:38:44 (UTC+7)

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    EUR/USD 1.0728 ↑ Buy  
    GBP/USD 1.2348 Neutral  
    USD/JPY 140.34 ↑ Sell  
    AUD/USD 0.6542 ↑ Buy  
    USD/CAD 1.3591 ↑ Sell  
    EUR/JPY 150.57 ↑ Sell  
    EUR/CHF 0.9695 ↑ Sell  
    Gold 1,961.45 Neutral  
    Silver 23.378 Buy  
    Copper 3.6818 ↑ Buy  
    Crude Oil WTI 73.04 ↑ Sell  
    Brent Oil 77.27 ↑ Sell  
    Natural Gas 2.429 ↑ Buy  
    US Coffee C 180.75 ↑ Sell  
    Euro Stoxx 50 4,346.15 ↑ Sell  
    S&P 500 4,205.45 ↑ Sell  
    DAX 16,027.85 ↑ Sell  
    FTSE 100 7,627.20 ↑ Sell  
    Hang Seng 18,528.39 ↑ Sell  
    Small Cap 2000 1,773.02 ↑ Buy  
    IBEX 35 9,218.64 ↑ Sell  
    BASF 47.050 ↑ Sell  
    Bayer 54.54 Neutral  
    Allianz 208.45 Neutral  
    Adidas 155.18 Buy  
    Lufthansa 9.268 ↑ Sell  
    Siemens AG 157.13 ↑ Sell  
    Deutsche Bank AG 9.800 ↑ Sell  
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# So hôm qua # Chênh TG
SJC Eximbank6,640/ 6,680
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