Tesla to temporarily shut down Fremont factory

Tesla will suspend production at its Fremont, Calif ., factory beginning March 23, days after a shelter in-place dictate comes into effect in Alameda County and provoked public wrangle between the automaker and local officials over what was consider an “essential” business.

Tesla will too suspend activities at its mill in Buffalo, New York except for” those parts and supplies necessary for service, infrastructure and critical supply bonds ,” the company said in a statement.

Tesla believes it has fairly liquidity to weather the shutdown caused by the COVID-1 9 pandemic. Its cash arrange at the end of the the fourth one-fourth was $6.3 billion before their most recent $ 2.3 billion capital raise.

” We believe this degree of liquidity is sufficient to successfully navigate an extended period of uncertainty ,” Tesla said.

The company had available credit lines worth about$ 3 billion, including working capital boundaries for all regions as well as financing for the expansion of its Shanghai factory at the end of the fourth one-quarter of 2019.

Here’s a portion of the statement 😛 TAGEND

In the past few days, we have met with neighbourhood, government and federal officials. We have followed and are continuing to follow all law counselings and safety recommendations with respect to the operations of our equipment, and have honored the Federal Government’s direction to continue operating. Despite taking all known health precautions, continued business in certain places has caused challenges for our employees, their families and our suppliers.

As such, we have decided to temporarily suspend production at our mill in Fremont, from expiration of daylight March 23, which will permit an orderly shutdown. Basic activities will continue in order to support our vehicle and energy service operations and charging infrastructure, as directed by the regional, nation and federal authorities. Our factory in New York will temporarily suspend production as well, except for those parts and furnishes necessary for service, infrastructure and critical supply orders. Activities of our others facilities will continue, including Nevada and our service and Supercharging network.

Tesla also said that it will start “touchless deliveries” in countless orientations to allow customers to make delivery of their vehicle” in a seamless and safe way .”

The vehicles will be placed in a give parking lot. Patrons will be able to unlock the vehicles employing the Tesla app and then sign the remaining paperwork necessary to take ownership. Customers will need to return that paperwork to an on-site drop-off location prior to leaving.

Read more: https :// techcrunch.com/ 2020/03/ 19/ tesla-to-temporarily-shut-down-fremont-factory /~ ATAGEND

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