The US automaker Tesla suspended its production at its Shanghai plant on Saturday, as per an internal notice, people familiar with the matter said. According to the sources, the company cancelled the morning shift of the employees and told all its workers that they can start their break. The company has not justified any reason.
News agency Reuters earlier this month reported that the company planned to suspend production at the plant from December 25 to January 01. The news of suspension comes amid rising Covid cases after the Asian country eased its ‘Zero-Covid policy’.
One of the people said that workers at the plant have been falling sick due to the current wave, delaying operations.
The abrupt move has been welcomed by businesses and the public but can be remarked as heavily disrupting for business operations.
Not just in Shanghai, Tesla CEO Elon Musk a few days back announced that for the coming 18 to 24 months he won’t be selling any shares to pacify shareholders of the company who saw the stocks falling.
Speaking to Twitter Spaces, Musk said, “I’m not selling any stock for 18 to 24 months.”
Ever since Musk acquired Twitter, the billionaire has sold nearly $23 billion worth of his company’s shares since April this year.
(With inputs from agencies)
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