Due to weakening demand in China, Tesla is slowing production and postponing hiring at its Shanghai plant. In addition, the manufacturer of electric cars has difficulties at the new plant in Texas, which is not increasing capacity as planned. The problems at the new giant plant in Texas are related to a slowdown in the expansion of production, since the new form of lithium-ion battery cells is not yet ready for mass production. In Shanghai, Tesla cut production shifts and postponed the hiring dates of some new employees, after announcing the company's plans to reduce production on the Model Y and Model 3 lines in Shanghai by about 20%. The situation raises shareholders' concerns about the future of Tesla. The company's shares have already lost more than $500 billion this year, and today they are under pressure again. The fact is that Elon Musk is considering using his share of shares as collateral for new loans in return for Twitter's debt obligations. Since Musk took over the Twitter social network, Tesla shareholders have been concerned about the priorities of the head of the company. «The Tesla board is inactive,» one of Tesla's largest individual shareholders wrote on Wednesday, offering to buy back shares. Elon Musk himself notes that he continues to supervise both Tesla and SpaceX, but the teams are so good that they can cope without his participation. According to the head of the company, Tesla has ambitious plans for 2023: it recently began producing the long-awaited Semi truck with a delay of several years and is going to start production of its first Cybertruck pickup truck.
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