Tesla Inc. (TSLA) said late Thursday it will temporarily halt production at its Fremont, Calif. factory starting Monday. "Despite taking all known health precautions, continued operations in certain locations has caused challenges for our employees, their families and our suppliers," the company said in a statement. Basic operations will continue. Production at its factory in New York will also be temporarily suspended, the company said. Tesla said it had $6.3 billion in cash before its recent $2.3 billion capital raise. "We believe this level of liquidity is sufficient to successfully navigate an extended period of uncertainty," it said. Available credit lines are worth about $3 billion, "including working capital lines for all regions as well as financing for the expansion of our Shanghai factory," it said.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 19, 2020 17:21 ET (21:21 GMT)
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