Tesla Inc.
TSLA,
has denied a report that it will cut production at its Shanghai plant by 20% in December owing to weaker demand, according to Reuters. Reuters and Bloomberg Bloomberg reported earlier on Monday that the cuts could come as soon as this week, after the company reviewed the performance of the domestic market, according to sources. It would mark the first volunteer cut in output by the China plant, which also faces competition from BYD and Guangzhou Automobile. Tesla saw weaker deliveries in October. MarketWatch has reached out to Tesla for comment.
