Tesla (TSLA) plans to halt production at its factories in China and Germany for several weeks in July, according to media reports. Elon Musk-led Tesla is a market leader in electric cars. However, it faces increasing competition from traditional automakers like General Motors (GM), Ford (F), and Volkswagen (VWAGY), who are transitioning their portfolios to electric models. In an effort to curb climate change, the demand for electric vehicles (EVs) is growing ever stronger. In 2021, global EV sales doubled from the previous year to 6.6 million units. While the demand is there, EV supply has remained short.
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