Tesla (TSLA.US) 's Shanghai plant has trimmed production of its Model Y electric vehicles (EVs) since March as demand for the model deteriorated in China, Chinese media reported, citing people with the knowledge of the matter and industry data.
The Shanghai plant is said to have chopped Model Y production by at least 20% between March and June. Data from the China Association of Automobile Manufacturers (CAAM) evidenced this claim, with Model Y production in March at 49,498 units, and then dropping to 36,610 units in April, representing year-on-year declines of 17.7% and 33%, respectively.
Despite recent layoffs in Tesla's China sales and charging services team, the company still plans to sell 600,000-700,000 EVs in China this year, the sources divulged.
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