Tesla Inc (NASDAQ: TSLA) has increased production at its Giga Shanghai factory by more than 80%, Chinese state media Global Times reported on Saturday , citing an official.
Tesla was part of the first white list of companies drawn up by Shanghai that would resume production in a staggered manner.
In addition to Tesla, China’s SAIC Motor and semiconductor firms were also on the top list, according to a report quoting Zhang Hongtao , chief engineer at the Shanghai Economic and Information Technology Commission .
The second white list of 1,188 companies adds more sectors that will resume production, including integrated circuits, automobile manufacturing, equipment manufacturing and biomedicine.
So far, China has allowed a total of 1,854 companies to resume production.
At press time, Tesla had not responded to Benzinga’s request for information.
Because it is important
China’s strict month-long lockdowns to curb Covid-19 cases have brought auto production, among others, to a near standstill. In addition to Tesla, Germany’s Volkswagen Group (OTC: VWAGY), Nio Inc (NYSE: NIO) and Xpeng Inc (NYSE: XPEV), among others, have been affected by the restrictions.
On Sunday, Nio, Xpeng and Li Auto (NASDAQ: LI) reported lower deliveries for last month compared to March.
The movement of prices
Nio shares closed 0.7% lower at $870.7 on Friday.
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