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Tesla says it will not cut car production in Shanghai: report

Tesla Inc TSLA,
has denied a report that it will cut production at its Shanghai plant by 20% in December due to weaker demand, Reuters said. Reuters and Bloomberg Bloomberg reported earlier on Monday that the cuts could come as early as this week after the company assessed its domestic market performance, according to sources. It would be the first voluntary production cut from the Chinese factory, which also faces competition from BYD and Guangzhou Automobile. Tesla saw weaker deliveries in October. MarketWatch has contacted Tesla for comment.