Tesla surges 9% after reopening its Shanghai factory following coronavirus shutdown
late Friday that the automaker's Shanghai factory would reopen on Monday following a closure due to the coronavirus epidemic. The company will also receive assistance from the Chinese government to resume production, according to the report.
"In view of the practical difficulties key manufacturing firms including Tesla have faced in resuming production, we will coordinate to make all efforts to help companies resume production as soon as possible," Shanghai municipal government spokesman Xu Wei said, according to Reuters.that it expected a production delay of one-and-a-half weeks at the factory due to a government-ordered shutdown prompted by the coronavirus epidemic, which has killed more than 700 people.
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