Tesla U.S. vehicle factory to suspend production but insists it has enough liquidity

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Tesla Inc (TSLA.O) will suspend production at its California vehicle factory beginning on March 24 to comply with local orders aimed at curbing the spread of coronavirus, the company said on Thursday.

The company said its New York factory will also temporarily suspend production, but said operations at its Nevada plant will continue.

In a statement, the company said: “Despite taking all known health precautions, continued operations in certain locations has caused challenges for our employees, their families and our suppliers,”

The company also said it believed it had enough liquidity to see through the extended period of uncertainty,  being brought about by the coronavirus epidemic. The company who recently raised $2.3 billion  has some $6.3 billion in cash at the end of the third quarter.

 

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