Tesla was among those hit hard as sales in the world's biggest car market dived 11.7% in March from a year earlier in the first decline in three months

EV makers in China produced far fewer cars than expected in March, due to measures taken to control Covid, but they have been selling from stockpiles to enable deliveries

The 50-year-old billionaire, wearing a black cowboy hat and sunglasses, made the comments at the opening of Tesla's new $1.1 billion factory in Texas

US EV maker forced to continue suspension of production lines at Shanghai factory after authorities extended Covid lockdown restrictions

US automaker had planned to resume production of Model 3 and Model Y cars on Friday but has now pushed back its restart date

Tesla plans to start work on a new plant in Shanghai as soon as next month as part of a plan to more than double production capacity in China to meet growing demand for its cars, sources claim