Market Chatter: Tesla Production in China Drops 27% in April; Shares Fall Pre-Bell
09:02 AM EDT, 05/11/2021 (MT Newswires) -- Tesla (TSLA) sold 25,845 vehicles made in China in April, a 27% drop from March according to China's Passenger Car Association, Bloomberg reported.
Meanwhile, Reuters reported that the electric vehicle maker decided not to acquire more land next to its Shanghai plant amid ongoing trade tensions between the US and China. Tesla will limit China's portion of its global production as 25% tariffs on electric vehicles levied during the Trump administration are still in place, according to report.
Shares of Tesla are down nearly 8% in premarket trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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