Elon Musk sought to downplay concerns about the electric-car maker’s operations in China after a three-week shutdown of its Shanghai plant but sales and production there are taking a hit for the time being.
. Tesla’s decline was far greater than China’s overall drop in new passenger vehicle sales, which fell 34% from March and 36% from April 2021.
“The epidemic in April spread in 29 provinces and cities across the country,” the industry association said in a statement. “In April the whole city of Shanghai was silent, which affected the supply and logistics of parts and components in the Yangtze River Delta and beyond, highlighting Shanghai's status as a hub in the national auto industry.”
China underpinned Tesla’s profitability for the past year as the country’s demand for electric vehicles, combined with lower parts and labor costs, quickly turned its Shanghai plant into its top source of production in 2021, less than two years after it opened. During the company’s first-quarter results call, when it
, Musk said despite last month’s shutdown the company might still make up production losses in China in the second quarter.“Giga Shanghai is coming back with a vengeance,” the company’s billionaire CEO said on the April 20 earnings call. “Notwithstanding new issues that arise, I think we will see a record output per week from Giga Shanghai this quarter–albeit we are missing a couple of weeks.”
Production resumed at the Shanghai plant in late April, initially with workers living at the facility round the clock, though output doesn’t appear to be back to normal levels.
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