Tesla is reportedly laying off an unknown number of people working on battery assembly at Giga Shanghai. The EV maker is giving some employees the option to transfer to other areas, such as general assembly, stamping, or painting. Gigafactory Shanghai had approximately 20,000 employees. - Tesla procures its batteries from LG Energy Solution and Contemporary Amperex Technology; however, it builds modules and packs in-house.
- Tesla and BYD were among 16 manufacturers to agree to halt further price cuts per a request by China's Ministry of Industry and Information Technology.
- $TSLA was up 0.84% for the day and 7% WoW on Friday afternoon.
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