Home » Tesla: stock still down (-2.8%) on Wall Street amid discounts in China and chaos in the German gigafactory

Tesla: stock still down (-2.8%) on Wall Street amid discounts in China and chaos in the German gigafactory

by admin

Another day dedicated to sales so far for Tesla after -6.1% on Monday and -1.3% yesterday. At the moment, the stock of the electric car manufacturer falls 2.8% on Wall Street and slips to 174.8 dollars per share.

Earlier this week, the company suffered rumors, later denied, of a possible 20% production cut at its Shanghai factory due to a slowdown in demand.

However, the 6,000 yuan discounts that the Company is offering on Model 3 and Model Y cars between now and the end of the year contribute to fueling concerns about requests in China.

In addition, media outlets report that Tesla is having difficulty recruiting and retaining staff at its new Berlin plant. The plant would be a long way from its goal of producing 5,000 vehicles a week, having hired only 7,000 workers instead of the 12,000 expected. This is also due to the fact that Tesla employees would earn a fifth less than the staff of rival German automakers.

Finally, Bloomberg reports of a downsizing of Apple’s plans in the autonomous driving sector. The Cupertino giant would in fact have postponed the launch of its vehicle by about a year, to 2026, due to the difficulties associated with entering a new sector and the high technological obstacles.

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