Tesla (TSLA) sold 10,160 vehicles in China in March, according to the China Passenger Car Association (CPCA)- a big leap from the 3,900 vehicles sold in February. This would mark the company’s highest ever monthly sales in the world’s largest auto market.According to Cui Dongshu, CPCA’s secretary general, Tesla sales now account for about 30% of the battery electric vehicles sold in China. Ultimately the company plans to produce 150,000 Model 3 sedans from its Shanghai factory.Indeed, Tesla’s $2 billion Shanghai plant recovered from the coronavirus shutdown faster than peers due to local authority assistance. After resuming operations in February, the factory surpassed its pre-shutdown capacity, making 3,000 cars a week, the company revealed last month.Meanwhile Tesla recently decided to furlough non-critical employees without pay and temporarily cut executive salaries as much as 30%.The move is designed to enable the company to conserve funds while the coronavirus pandemic has caused much...
Following two consecutive weeks of jobless claims in the millions, another 6.606 million Americans filed for unemployment for the week ending April 4....
Etsy Inc. (NASDAQ: ETSY) CEO Josh Silverman says that sellers and consumers of face masks are on a rampage amid COVID-19 pandemic.What Happened With 2.7 million sellers, online marketplace Etsy currently has almost 20,000 shops selling face masks as the Centres for Disease Control and Prevention made face masks compulsory for all Americans. The decision was made based on the fundings that asymptomatic people also capable of spreading the COIVD-19 virus, CNBC reported.The previous weekend saw consumers seeking face masks on Etsy on an average of 9 times per second, leading to more than 2 million searches, Etsy reported. The number of shops selling the masks has multiplied three times on a daily basis in the past week.Silverman noted that easier accessibility of fabric masks would mean health care workers will be able to have access to the surgical masks they really need. Cautiously stating, he further added that these fabric...
