Tesla Shanghai shutdown adds to China auto woes

Reports of a production suspension at Tesla’s Shanghai plant has not only contributed to a tumble in the shares of the electric-vehicle (EV) maker but also added to concerns over a slowdown in China’s car market, which has been struggling due to shrinking sales in recent months.

Chinese steel prices have failed to receive support recently from the ailing car market — one of the major downstream users of steel. That, together with weakness across other major downstream...

Published

Zihuan Pan

December 28, 2022

14:20 GMT

Shanghai