Tesla’s weak sales in China worry investors
CNNNew York CNN Business — Tesla’s recent run of bad publicity in China is apparently hurting its sales there, raising investor concerns. And there were reports that China’s military had banned Tesla vehicles from entering its complexes, expressing concerns that cameras equipped onboard could be used for spying, a charge Tesla CEO Elon Musk denied. The sales numbers show that all the issues in April had an impact.” Also hurting share prices Tuesday is a story from Reuters that Tesla has halted plans to buy land to expand its Shanghai plant into a global export hub due to uncertainty over U.S.-China trade tensions. Reuters reported that Tesla told it that the Shanghai factory is “developing as planned.” The Chinese sales news and the Reuters report helped send Tesla shares down 2% on Tuesday.