China's EV Demand seems below expectation, Tesla to Cut Work Hours in Shanghai Facility

December 09, 2022 By Raulf Hernes

(Image Credit Google)

According to someone with knowledge of the situation, Tesla intends to start reducing production shifts at its Shanghai facility as early as Monday, Dec. 12. This further suggests that, as reported by Bloomberg, China's demand for the company's electric cars (EVs) is not meeting expectations. According to Bloomberg's unnamed sources, the factory will operate two 9 1/2-hour hours instead of the two 11 1/2-hour shifts it currently does. The adjustment will start on Monday, but there may be some last-minute changes, according to the sources. They asserted that the reduced working hours would result in a fall in the monthly salary for the manufacturing workforce. Shorter shifts at the Shanghai site as part of the output decline, according to one person, wouldn't necessarily have an impact on monthly deliveries because the company still has inventories. [caption id="attachment_69724" align="aligncenter" width="1200"] Tesla Ultrasonic Sensor

Image: Tesla[/caption] Orders for the Model 3 or Model Y in China, according to Tesla's website, should be delivered this month. Compared to earlier this year, when it might take up to 22 weeks, this lead time is shorter. Analyst Toni Sacconaghi Jr. cautioned this week that Tesla "increasingly appears to have a demand issue." Tesla shares were down 1.3% at 8:28 AM EST, following an initial 2.3% decline in early New York trade. According to a separate report by Bloomberg published earlier this week, Tesla will reduce output at its Shanghai factory by about 20% this month, which will have an effect on both the Model Y and the Model 3 production lines. The claim that the carmaker may cut output, however, was categorically disputed by a Tesla spokeswoman, who called it "untrue." According to additional reports, the onboarding process for new hires has been suspended. [caption id="attachment_64251" align="aligncenter" width="1200"] Tesla Interior

Image: Bloomberg[/caption] One person claimed they were instructed to be prepared to begin work after the Chinese New Year holiday, which is in late January, even though there is currently no immediate need for new employees. Elon Musk Temporarily Loses the Title of World's Richest Person on Forbes Billionaire List, as well After a manufacturing refurbishment boosted production to 1 million automobiles annually, recent markdowns and incentive offers show that demand is not keeping up with supply. Tesla offered discounts of up to 6,000 yuan ($860) to customers who buy and take ownership of new cars this month. China's marketing initiative was reportedly changed in November, according to reports. In exchange for test-drive suggestions, the automaker gave a week's worth of Model 3s to a select group of survey participants.

By Raulf Hernes

If you ask me raulf means ALL ABOUT TECH!!

China's EV Demand seems below expectation, Tesla to Cut Work Hours in Shanghai Facility

Walmart's GenAI Search Engine: Challenging Google's Dominance in Retail Search

Introducing the MSI Claw Handheld: Your Ultimate Gaming Companion

Uber Increases In-App Ads, Prompting Mixed Reactions from Customers

Apple's iOS 18: A Leap into the AI Era

Google's Regular Pixel 8 Won't Get Gemini Nano AI

MacBook Air M3 Makes Amends for M2's Storage Blunder

Samsung Unveils the Galaxy M15 5G

Elon Musk's xAI to Open-Source Chatbot Grok

Contra: Operation Galuga - A Modern Run-and-Gun Classic

Musk Confirms X's TV App Arrives This Week

Jeff Bezos' $500 Million Yacht Has a Sculpture of Lauren Sanchez

Ford’s all-electric Explorer available for order in Europe, but not for America

Not So Regular: This rideshare company offers luxury rides

Ford To Resume Production Of F-150 Lightning EV From March

Ducati is still not producing electric motorcycles due to the current state of battery technology

Volvo To Open A New Tech Hub In Poland To Meet Its 2030 All-Electric Vehicle Goal