By Dhirendra Tripathi
Investing.com – Tesla (NASDAQ:TSLA) stock traded 0.3% higher in Thursday’s premarket, shrugging off the company’s decision to delay the resumption of production at its Shanghai plant.
Production of Model 3 and Model Y cars at the company’s factory in Pudong district, east of the city's Huangpu River, was suspended Monday after the city’s authorities launched a two-stage lockdown to combat a surge in COVID-19 cases. The production was expected to resume Friday.
While the lockdown is set to be lifted Friday, a Reuters report said the company had yet to secure permits from the Shanghai government for its trucks to deliver assembled electric cars outside of Pudong to western parts of the city.
Shanghai is set to lock down areas west of the river from the early hours of Friday morning, the report said.
Shortage of workers could also be behind the company’s decision to put off the production, it said.