The Clap
Tesla (NASDAQ: TSLA) is back operating at 70% of the pre-lockdown production level, according to Reuters.
Backstory
Chinese authorities were urged last week to begin lifting the zero-COVID policy to strengthen economic growth & bring down unemployment.
In April 2022, Tesla reported better-than-expected earnings despite supply chain constraints & the suspension of Tesla’s Shanghai factory due to China’s zero-COVID policy.
Tesla’s Shanghai plant was reopened on April 19, 2022, but the company lacked sufficient workers & suffered from logistical problems with some supply parts.
Why this matters
The Shanghai plant was a significant production disruptor to Tesla. Now that it’s at 70% production capacity, it’s only expected to continue increasing in the coming weeks.
