- Tesla (NASDAQ:TSLA) has clarified to Chinese financial media group Yicai on Tuesday that it is not planning to close some of its stores in high-rent cities of the country.
- Reuters had reported earlier in September that Tesla was reshuffling its store strategy in China, close some showrooms in expensive locations and focus on lower-cost stores in suburban areas.
- The U.S. EV maker confirmed that its sales channels are expanding at a normal rate in China and is not sure where the information came from. The EV maker has opened new retail stores in malls in Xi’an, Shanghai and other cities since September. It now has 26 stores in Shanghai alone.
- Tesla (TSLA) did not comment on whether it was ramping up vehicle service offerings in China. It has over 300 service job openings in the country as per its careers website.
- TSLA shares were marginally up premarket
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Tesla Reportedly Denies Store Reshuffle in China
Seeking Alpha2022-09-21
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