AutoBeta(AutoBeta.net)12/26 Report--

Tesla's Shanghai super factory suspended production on the same day, according to an internal notice and two people familiar with the matter. According to the report, the early shift at the factory was cancelled that day, and the workers were told they could start their leave, and the factory did not give a specific reason.

In response to the rumors of a shutdown, Tesla China responded to the media: "vehicle production will carry out annual production line maintenance work as planned this week, and workers will also take a rest during the production line maintenance period after a year of hard work." However, the charging piles and other workshops have not been shut down, so the factory shutdown reported by the media is not entirely accurate. "

Shanghai factory is Tesla's first overseas factory, located in Shanghai Lingang area, including vehicle production area, test area, parts production area and joint plant (maintenance workshop). It mainly produces Model 3 and Model Y models. It is understood that the Shanghai factory undertakes the important task of Tesla's domestic sales and foreign supply. About 60 per cent of Tesla's electric cars produced in China are sold at home, and the rest are exported to overseas markets such as Australia, Europe, Japan and Singapore. In 2021, for example, Tesla delivered 484000 new cars in China, accounting for 51.7 per cent of Tesla's total global deliveries. After entering 2022, the factory was affected by the outbreak in the first half of the year and was forced to suspend production several times.

During the 2021 earnings call, Tesla CEO Musk said that Tesla should be able to produce 1.5 million cars by 2022. The problem we face is not limited demand, but limited production capacity. Data show that Tesla delivered a total of 908573 new cars worldwide in the first three quarters of 2022. If Tesla wants to achieve his annual target of 1.5 million, it means that 600000 new cars will need to be delivered in the fourth quarter. This is not a small number.

Entering the third quarter, Tesla's performance in the Chinese market was worrying and began to show signs of "not selling". In October, Tesla China announced adjustments to the prices of Model 3 and Model Y models on sale at Chinese mainland, including a drop of 1.4-18000 yuan for Model 3 and 2.0-37000 yuan for Model Y. Since then, Tesla China has also introduced policies such as tail subsidy and speeding up the pick-up cycle, hoping to stimulate the market, but relevant data show that Tesla's insurance in China showed a declining trend in December, with 11567 in the first week and 12977 in the second week. compared with 10254 in the third week, the cumulative number of insurance in the first three weeks was 34798. As a car company fighting with orders, sales are declining, which means that Tesla's price reduction strategy may not work, and domestic consumers do not pay the bill.

Sales in China have also plummeted, sparking fears that Tesla can no longer be sold. Tesla's share price has plummeted, and Tesla's share price is now only $123.15, with a total market capitalization of $388.877 billion. It is understood that Tesla's market capitalization at its peak exceeded US $1,000bn, more than the combined market capitalization of the 12 largest automakers in the world. Of course, Tesla is still the world's largest car company by market capitalization, but it has shrunk sharply than before.

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