Memo Shows Tesla to Ramp up Production in Shanghai By Financial Eye

© Financial Eye. Memo Shows Tesla (TSLA) to Ramp up Production in Shanghai

By Michael Elkins

An internal memo obtained suggests that Tesla (NASDAQ:) plans to restore production at its Shanghai Giga plant to pre-lockdown levels by Tuesday, a day later than its latest recovery plan.

Just over two weeks ago, it was reported that Tesla had planned to have returned to pre-lockdown production levels by May 16, but then delayed that target by a week.

According to the memo detailing the plan, Tesla will more than double its daily output to 2,600 electric vehicles at its Shanghai plant from Tuesday. That compares to around 1,000 EVs produced on Monday and would bring Tesla’s weekly output to nearly 16,000 units.

Before the lockdown, Tesla had run three shifts at the Shanghai plant. After being shut down for 22 days, the plant opened on a “closed loop” system. Operating in a staggered manner, but production was hindered further as the plant had continued troubles securing parts.

The shutdown in Shanghai has been hard on the electric vehicle company. Tesla sold only 1,512 EVs in China in April, down from 65,754 the previous month.

Source: Investopedia