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Tesla stock sinks to a five-month low after China reportedly blocks sales of imported Model 3 cars – Business Insider

Some of the vehicles had no Chinese labels on brake fluid tanks, while some demonstrated a real motor capacity that differed from the one on the label,” Caixin reported.

Trading volumes for Tesla also spiked to levels not seen in months, according to Markets Insider data.

Tesla stock sinks to a five-month low after China reportedly blocks sales of imported Model 3 cars
Business Insider

Chinese officials blocked the import of 1,600 Tesla Model 3 cars, the country’s Caixin news service reported Tuesday. Tesla shares sank as much as 5% following the report, to their lowest prices since October. Shares of Tesla sank as much as 5.2% on Tuesday after China’s Caixin news service reported the country had suspended customs clearances on imported vehicles. According to Reuters, officials in Shanghai reported “various irregularities” in 1,600 Model 3’s set for delivery in the country, Read the full story

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