Tesla (TSLA) Surges Over 5% Amid Plans to Pause Model Y Production in China

4 hours ago

Tesla (TSLA, Financial) shares rose by over 5%, closing at $417.26. The increase follows reports that Tesla plans to temporarily halt some production lines for the new Model Y in China during the Lunar New Year. This pause aims to optimize equipment and prepare for increased production of new models.

The Model Y is one of Tesla's best-selling vehicles. The company recently began accepting orders for the new version, with deliveries expected to start in March. The planned production pause is seen as a strategic move to enhance manufacturing efficiency and meet anticipated demand for the updated Model Y.

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