Tesla Cuts Shanghai Factory Output on Sliding China EV Demand, Likely to Miss Delivery Targets
- Tesla cutting production at Shanghai factory amid slowing EV demand in China
- Comes as Tesla likely to miss Q1 delivery targets and plans to raise prices
- Tesla China deliveries down 19% in February year-over-year
- Confirmation of weakening demand in China and other key markets like Europe
- Tesla stock dropped nearly 7% last week to 2023 lows on demand concerns
