Shares of Tesla (TSLA.O) fell about 5% on Monday after key supplier Panasonic Holdings (6752.T) said it cut automotive battery production in the September quarter, cementing concerns of a global slowdown in electric-vehicle (EV) sales.
Raindrops are seen on the bonnet of a used Tesla electric car outside the showroom of a used car dealer in Manchester, Britain, October 19, 2023. REUTERS/Phil Noble/File Photosaid it cut automotive battery production in the September quarter, cementing concerns of a global slowdown in electric-vehicle sales.
"ON sells to automotive players with over 50% share of global EV sales, including 4 of the top 5 China EV makers," he said in a post on social media platform X on Monday.Onsemi CEO Hassane El-Khoury said the company's top European clients were working to clear their inventory and noted that the company sees "increasing
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Tesla falls as production cut by battery supplier Panasonic fans EV demand fearsTesla falls as production cut by battery supplier Panasonic fans EV demand fears
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