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Down she goes.
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Registrations of new Tesla (TSLA) cars in China hit the brakes in January, plunging by almost half, as the Lunar New Year holiday and the then-escalating coronavirus outbreak kept buyers away.
Citing state-backed China Automotive Information Net, which gathers industry data based on insurance purchases, Bloomberg reported Thursday that 3,563 Tesla cars were registered in China last month, down from 6,643 in December.
Of the January registrations, 2,605 were for cars built in China, Bloomberg said.
The hefty drop illustrates Tesla’s vulnerability not only to unexpected events that impact buyers’ behavior but also broader trends in China's electric-car market, which has seen waning demand amid slowing economic growth and reduced incentives for electric vehicles.
Also, the solar panel business has been a drain on Tesla. And now this.
TOKYO (AP) — PANASONIC is pulling out of its partnership with Tesla to produce solar panels at a factory in New York state, the Japanese electronics maker said Wednesday.
Panasonic's production at the factory in Buffalo will end by May, with an exit by September, it said in a statement. The decision is to streamline the company's global solar energy operations, it said.
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