Elon Musk Denies Reports Suggesting Sale of Tesla's Gigafactory Shanghai
Tesla CEO Elon Musk has dismissed rumors that the company is planning to sell its Gigafactory Shanghai, calling them 'fake news.' The denial came after a Wall Street Journal report suggested advisers had considered options such as spinning off or selling Tesla’s Chinese operations. Although Musk did not directly address these specific scenarios beyond his broad dismissal of the claims, he urged people to assume breaking news is false until proven otherwise. Gigafactory Shanghai remains one of Tesla's most critical facilities with an annual production capacity exceeding 950,000 vehicles and historically contributing more than half of the company’s global deliveries. The plant also exports cars across Europe, Canada, and Asia-Pacific regions.
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Topics: Elon Musk Gigafactory Shanghai M&A speculation Rumors Tesla