Tesla Stock Slides as EV Maker Reportedly Plans Weeklong Production Halt at Austin Plant
Tesla shares slid Tuesday as a report emerged the company plans to pause production of Cybertrucks and Model Y vehicles at its Austin, Texas plant for one week starting later this month.
Austin is also the site of Tesla's highly anticipated robotaxi launch, which CEO Elon Musk said last week is 'tentatively' planned for June 22.
With Tuesday's losses, Tesla shares have lost about a fifth of their value since the start of the year.Tesla (TSLA) shares slid nearly 4% Tuesday as a report emerged the company plans to pause production of Cybertrucks and Model Y vehicles at its Austin, Texas plant for one week starting later this month.
The electric vehicle maker told employees the stoppage will occur the week of June 30 and allow for maintenance on production lines, according to a report from Business Insider. It would be the third production halt within the past year, the report said.
Tesla did not immediately respond to an Investopedia request for comment.
Austin is also the site of Tesla's highly anticipated robotaxi launch, which CEO Elon Musk said last week is 'tentatively' planned for June 22. The company has said it expects to start with 10 to 20 vehicles, and grow the fleet in the coming months.
With Tuesday's losses, Tesla shares have lost about a fifth of their value since the start of the year. The stock has taken a hit in 2025 amid worries about slumping sales, tariffs, and as controversy swirled around Musk's political activities.
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