Tesla (TSLA) cuts production targets in Germany as output slows

A story by Business Insider Wednesday, citing internal documents and unnamed sources, reports that electric vehicle maker, Tesla (NASDAQ: TSLA) has decided to cut their production targets for their German facility to 4,350 a week in July and August after hitting 5,000 a week in March with plans to reduce it further.

In late March, the American EV maker shared a post on X, the social media platform formerly named Twitter, saying that the company had achieved a production rate of 5,000 cars per week at its Gruenheide plant near Berlin. However, employees who preferred to remain anonymous informed Business Insider that this accomplishment was an isolated incident and that the typical production output since then had been notably lower.

Business Insider reported that pictures from Tesla's internal workflow software suggested that the automaker had revised its production target for July and August to 870 cars per day. However, even this adjusted objective was not consistently met, as evidenced by production figures of 692 cars on July 25 and 806 on July 28, as depicted in the images.

According to the unnamed sources, the internal target had since been adjusted further down to 750 cars per day, amounting to less than 4,000 a week.

Tesla in July publicly announced its intention to enhance the production capacity of the Gruenheide factory to accommodate up to 1 million vehicles annually. However, the company did not disclose a specific timeframe for this expansion. Furthermore, Tesla has also refused to offer any details on when they anticipate achieving a production rate of 6,000 cars per week at the same plant.

Shares of TSLA are up 0.54% in morning trading on Wednesday.

By Michael Elkins | [email protected]

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