Tesla Is Ramping Up Production in China
Electric car maker Tesla (NASDAQ: TSLA) saw its year-over-year growth rate in vehicle deliveries slow in Q2. But it wasn't because demand was suffering. Orders were backed up so much that some customers had delivery times that were pushed into next year. The crux of the problem was supply. Tesla "saw a continuation of manufacturing challenges related to shutdowns, global supply chain disruptions, labor shortages and logistics and other complications, which limited our ability to consistently run our factories at full capacity," the company said in its second-quarter update.
But there's good news this week when it comes to Tesla's production. Delivery windows for new Model Y customer orders in China were just slashed, suggesting the company's production rate at its factory in Shanghai is picking up speed.
Delivery times for new orders of Tesla's rear-wheel drive Model Y in China now have an estimated delivery window of between four and eight weeks, down from a previous estimate of between eight and 24 weeks.
Source Fool.com
