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Tesla has announced a significant uptick in insurance registrations for their vehicles in China, which recently reached 20,700—an impressive 21.8% increase week-over-week, showcasing resilience amid production halts for upgrades and the impacts of Chinese New Year. Although quarterly numbers reflect a 30% decline compared to the last quarter due to factory shutdowns, the real-time data suggests that the production ramp for the Model Y is on target, indicating a robust recovery.
Production at the Giga Shanghai facility appears to be stabilizing quickly. This swift resumption hints that the ramp-up process for the new Model Y is progressing faster than the previous Model 3 refreshes, signaling potential improvements in the supply chain’s efficiency.