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Report: Tesla's Shanghai Gigafactory Up And Running Following Coronavirus Production Hit

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Report: Tesla's Shanghai Gigafactory Up And Running Following Coronavirus Production Hit

Shares of Tesla Inc (NASDAQ: TSLA) could be in for further upside amid a couple of positive catalysts.

The electric vehicle maker has resumed production in full swing at its Shanghai Gigafactory following the disruptions caused by the COVID-19 outbreak in Wuhan in late January, China Daily.com reported, citing the news portal Shanghai Observer.

The U.S. EV maker, which began rolling out its first domestically produced Model 3 vehicles in China in January, has adopted several scientific prevention and control measures to ensure health of its employees, the report said.

See Also: Tesla Model 3 Teardown Finds Technology Years Ahead Of Established Automakers

Tesla resumed production Feb. 10, the publication said. 

The production capacity of the Shanghai plant is 3,000 vehicles per week.

Earlier in the day, German media reports said Tesla received the green signal from a German court to continue construction at its Berlin gigafactory after environmental activists opposed the clearing of forest to facilitate construction.

Tesla shares were down 0.55% at $894.50 at the time of publication Friday. 

Photo courtesy of Tesla. 

 

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