By Equal Ocean. Originally published at ValueWalk.
The company is on the ‘whitelist’ of those allowed to produce conditionally.
Tesla Gigafactory Shanghai Restarts Production
Tesla Inc (NASDAQ:TSLA) Shanghai resumed production on April 19, with 8000 employees assembling cars at the plant. This is right after a three-week production halt due to Shanghai’s Covid-19 lockdown.
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Tesla is expected to ramp up production in the next three to four days in order to reach 100% output on single shifts, according to a production manager. Currently, the most effective assembly line was the one located in the second phase of the Tesla Shanghai project, which was able to complete ninety models per hour.
The company also said that there was about a week’s inventory for auto parts. And they were actively facilitating the suppliers to recover production and smoothing the logistics with the help of the Shanghai Government.
To reduce the risk of spreading Covid-19, returning employees are mandatory to do antigen tests in the morning and PCR tests in the afternoon. Besides, the plant will be disinfected every day.
Article by Niko Yang, EqualOcean, an investment research firm focusing on China.
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