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
92-Year Old Li Ka-Shing Receives First Dose of BioNTech Vaccine
China Becomes World’s Biggest Buyer of Chip Equipment in 2020, Says SEMI
Geely-Controlled Swedish Electric Carmaker Polestar Raises $550 Million in First External Funding
Xpeng Looks to Cut Reliance on Foreign Made Chips Amid Global Shortage
Trending in China: The Fake Writing Competition That Conned Beijing Parents for Years
ByteDance Powers Up Gaming Investment with C4games Acquisition
Didi Given Greenlight to Test Autonomous Vehicles in Beijing Pilot Zone
Xpeng Debuts New Car As China’s NEV Market Heats Up
Lenovo Still Top Dog in Global PC Market in First Quarter of 2021
Tesla Says Any Data It Collects in China Is Stored in the Nation
Medtech Startup StoneWise Raises $100 Million to Promote Use of AI in Drug Development
Plus Accelerates Uptake of its Autonomous Truck Tech with Italian IVECO Deal
Trending in China: Farmer Given Suspended Jail Time For Felling Own Trees – Social Media Chimes In
‘Tickets Please!’ Baidu Allowed to Charge for Robobus Service in Chongqing
Didi Reportedly Looking to List in U.S. as Soon as July
China’s NEV Sales Balloon in First Quarter on Strong Demand from Individual Consumers
Honor of Kings Beats PUBG Mobile as World’s Highest-Earning Mobile Game in March
Didi to Expand New Logistics Service From 8 to 19 Cities in China
China’s Li Auto Raises $750 Million Through Bond Sale to Fund Electric Car Development
Plant-Based Food Firm Beyond Meat to Open Plant Based in China
Tesla Stock Climbs As Its Shanghai Plant Restarts Production Amid Virus Outbreak

By Ding Yi / Feb 11, 2020 04:08 PM / Business & Tech

Photo: VCG

Photo: VCG

Tesla’s shares gained 3.1% Monday, closing at $771.28, amid reports that the U.S. electric car maker has resumed production at its Shanghai factory this week. Production had previously been shut down due to the novel coronavirus outbreak.

The restart of production comes two weeks after Tesla’s chief financial officer Zach Kirkhorn announced during an earnings call that the Chinese government had required the Shanghai plant close due to 2019-nCoV concerns, which would delay the deliveries of the China-made Model 3 sedans.

The Shanghai municipal government previously said it would “make all efforts” to help Tesla and other companies resume normal operations, Reuters reported. Analysts cited these remarks as the reason behind Tesla’s climb on Monday.

In addition to building the homegrown Model 3s, Tesla has also announced plans to produce Model Y sports utility vehicles at the Shanghai plant, the automaker’s first facility outside of the U.S..

Contact reporter Ding Yi (yiding@caixin.com)

Related: Tesla Temporarily Closes Its Shanghai Plant Due to Coronavirus


Share this article
Open WeChat and scan the QR code