Tesla: Fremont factory resumes production

(CercleFinance.com) - Tesla shares were up 2% on Tuesday after Elon Musk announced in a shocking move that the electric carmaker had restarted production at its Fremont factory, defying Covid-19 health orders currently in place in California.


The CEO tweet reads: "Tesla is restarting production today against Alameda County rules. I will be on the line with everyone else. If anyone is arrested, I ask that it only be me."

The billionaire further explained that his decision was based on all other US auto giants being approved to resume operations. "Only Tesla has been singled out," he noted.

According to UBS analysts, Tesla's relaunch of production without local government approval could stem from an eagerness to get back to normal in order to fulfil significant order backlogs from the new Model Y.

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