Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Trending in China: Outrage Ensues as Updated U.S. Student Visa Policies Force International Students into a Dilemma
Tencent’s PUBG Mobile Game Hits $3 Billion Milestone
Luckin Coffee Shareholders Vote to Remove Chairman, Bloomberg Reports
France Won’t Ban But Will Discourage Use of Huawei 5G Equipment, Official Says
Trending in China: ‘Lipstick King’ Li Jiaqi Settles in Shanghai, Prompting a Rethink of ‘Talent’
Tencent Plays in U.S. With California Game Studio Launch
Trending in China: Shenzhen Thinks Only Children Should Get Paid Leave to Look After Their Parents - Cue Heated Debate
German Drugmaker BI Launches Shanghai Center to Harness Chinese Expertise
Chinese Self-Driving Truck Firm Aims to Cover Most of U.S. by 2024
Trending in China: Chinese Netizens Tell Indian Prime Minister Modi To ‘Shut The Door On The Way Out’ As He Quits Weibo
Trending in China: If You Can’t Beat Them, Join Them – Why Tencent is Laughing At Itself
Meituan Eyes Robot-Enabled Deliveries with $14 Million Investment in PuduTech
India Ban Could Hit TikTok’s Parent Company to the Tune of $6 Billion
Sina Weibo to Issue $750 Million in Bonds
Embattled Leshi Forced to Sell Smart TV, Livestreaming Trademarks
Autowise.ai and Swiss Cleaning Carmaker Launch Driverless Street Sweeper
Trending in China: How an ‘Old Godmother’ Took on China’s Internet Giant and Won
China’s IT Spending Expected to Hit $297 Billion: IDC
TikTok Moves Data Protection of European Users from U.S. to U.K. and Ireland
Trending in China: Dazed and Confused – China’s Elderly in Online Pandemic World
Tesla Temporarily Closes Its Shanghai Plant Due to Coronavirus

By Ding Yi / Jan 30, 2020 06:26 PM / Business & Tech

1

Tesla has temporarily halted operations in its Shanghai plant at the request of the Chinese government, which is making efforts to curb the spread of the new coronavirus that originated in the city of Wuhan, according to a report by MarketWatch.

During an earnings call on Wednesday Tesla’s Chief Financial Officer Zach Kirkhorn said the Chinese government required the shutdown due to coronavirus fears, adding the shutdown will delay China-made Model 3 production for a week and a half.

The factory closure may slightly drag down quarterly profitability, but the impact is limited as the profit contribution from the Shanghai plant remains in the early stage, Kirkhorn said.

The executive noted that Tesla is also closely monitoring any supply chain issues that might emerge for vehicles produced in its main Fremont production base due to the shutdown.

Ahead of the earnings call, Tesla on Wednesday released its financial report for the fourth quarter of 2019, which showed that the automaker generated revenue of $7.38 billion in the quarter, just up 2% from the same period of 2018. Net income was $105 million, down from $140 million in the fourth quarter of 2018.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Tesla Switches to Baidu for In-Car Map Services

Share this article
Open WeChat and scan the QR code