Production at Tesla's Shanghai Gigafactory has significantly exceeded sales. Taking October as an example, its output was 87,706 units, which was about 16,000 units higher than the 71,704 units delivered. It is understood that this is the largest gap between production and sales since Tesla opened the Shanghai factory at the end of 2019. In addition, Reuters quoted people familiar with the matter as saying that the combination of a weaker yuan against the U.S. dollar, falling raw material prices in China, and rising U.S. Tesla and new car prices have made China’s exports to the U.S. potentially cost-competitive.
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