Tesla to cut Model 3 production in US for 2 weeks due to parts shortage

Topics Tesla | Tesla Model 3

(Reuters) - Electric vehicle maker Tesla Inc plans to slash production of its Model 3 sedans for two weeks, sources told Reuters on Thursday, at a time when demand is slowing for Tesla cars and the market faces a chip shortage. They were not aware of the cause of the production slowdown, but one person said a chip shortage may have affected the production cutback, which would last until March 7. Shares of Tesla slumped about 8% to close Thursday's session at $682.

22. The company could not be immediately reached for comment. Tesla.

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