Tesla, GM, VW Recover 20% Capacity in Shanghai After Restart

News Snapshot:

Export volume from Shanghai is almost back to normal as carmakers prioritize them over domestic shipments. Shanghai’s big four carmakers are now producing a total of about 2,000 cars a day, a state official said. That means the auto giants – Tesla, Volkswagen, an SAIC Motor joint venture with General Motors, and SAIC’s passenger vehicle arm – have recovered an average of about 21% of their pre-lockdown capacity, and export volume is almost on par with last year’s monthly average, said David Zhang, head of research at Jiangxi New Energy Technology Institute. By reaching 2,000 cars a day, the big...