News > Tesla To Cut Model 3 Production In US For Two Weeks: Sources

Tesla To Cut Model 3 Production In US For Two Weeks: Sources

Electric vehicle maker Tesla Inc plans to slash production of its Model 3 sedans for two weeks, sources told Reuters on Thursday, at a time when demand is slowing for Tesla cars and the market faes a chip shortage.

Shares of electric-car maker slumped about 6% to $698.96. Tesla could not be immediately reached for comment. Tesla said last month that it might face a temporary impact from a global semiconductor shortage and logistics disruptions at ports.