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The Latest Breaking News from Shanghai

Volkswagen Boss Herbert Diess: New Plants Will Drain Tesla's Strength

Herbert Diess said that Tesla's issues at the Giga Berlinand Giga Austin plants, plus expansion of Giga Shanghai, will drain strength out of Tesla.

InsideEVs

China slashes COVID-19 quarantine time by half for international travellers

Beijing says the new rules are designed to make coronavirus restrictions more "scientific and precise" while the country sticks with its COVID-zero principle.

ABC News

Shanghai Composite Index Fell 1.4% on Wednesday

Shenzhen Component Index closed down 2.2%

Caixin Global

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Widespread relief for Shanghai's restaurant sector as dine-in resumes

Restaurants and eateries in China's largest city Shanghai begun reopening their doors to diners on Wednesday, bringing widespread relief to an industry that was badly hit by the city's two month COVID-19 lockdown.

Reuters

Disney To Reopen Shanghai Theme Park On June 30

The Walt Disney Co. (NYSE: DIS) will reopen its Shanghai Disneyland theme park on June 30, three months after the site was closed during the COVID lockdowns that paralyzed the Chinese city.

Benzinga

China cuts travel quarantine in biggest COVID zero shift yet

China reduced quarantine times for inbound travelers by half, the biggest shift yet in a COVID-19 policy that has left the world’s second-largest economy isolated as it continues to try and eliminate the virus.

Tribune News Service

Woman rescues stray 'puppy' from garden - then expert confirms it's not a dog

Hu Nan, from Shanghai, China, found an abandoned 'puppy' in her garden and raised it for two months before an animal expert confirmed it was actually a raccoon dog

Daily Mirror

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Shanghai Disney Resort Says to Reopen Disneyland Theme Park on June 30

The Shanghai Disney Resort said on Tuesday it will reopen Disneyland theme park on June 30. "The magic is back!" the company said on its Weibo account. The Resort reopened Disneytown and Shanghai Disneyland Hotel on June 16. Shanghai Disney Resort has been closed since March 21 due to the…

Asharq Al-Awsat

China slashes COVID quarantine time for international travellers

China slashed the quarantine time for inbound travellers by half on Tuesday, in a major easing of COVID-19 curbs that have deterred cross-border travel and resulted in international flights running at just 2% of pre-pandemic levels.

Reuters

Shanghai's Disneyland theme park to re-open on Thursday

The Walt Disney Co's Shanghai Disney Resort said on Tuesday it would reopen the Disneyland theme park on June 30, a month after the Chinese economic hub lifted a two month-long COVID-19 lockdown.

Reuters

Report: Tesla Will Upgrade Its Plant In Shanghai To Boost Production

The Tesla Giga Shanghai plant barely returned to volume production after several weeks of lockdowns, but must halt production once more.

InsideEVs

Air conditioners in short supply as China lockdown ripple spreads

Concerns are growing that supply cannot keep up with demand for home appliances such as air conditioners and washing machines, due to the global shortage of semiconductors and Shanghai's COVID-19 lockdowns, which have hampered manufacturers' production.

The Japan News/Yomiuri

Shanghai will gradually resume dining-in at restaurants from June 29

Shanghai will gradually resume dining-in at restaurants from June 29 in low-risk areas and areas without any community-level spread of COVID-19 during the previous week，a Shanghai government official said on Sunday.

Reuters

Shanghai Reports Zero Covid Cases for 1st Time Since Outbreak

China reported zero new Covid-19 infections in Shanghai for the first time since March on Saturday, as the country's latest outbreak subsides after months of virus-spurred lockdowns and restrictions. China is the last major economy still committed to a zero-Covid strategy, stamping out new cases with a combination of targeted…

Asharq Al-Awsat

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Bangkok Post

Chinese military: US plane in Taiwan Strait endangered peace

SHANGHAI: China's military said on Saturday that the recent fly through of a United States maritime plane through the Taiwan Strait deliberately disrupted the regional situation and endangered peace and stability.

Benzinga

Here's Why Credit Suisse Sees Tesla Triumph Amid Odds

Credit Suisse analyst Dan Levy maintained Tesla Inc (NASDAQ:TSLA) with an Outperform and cut the price target from $1,125 to $1,000 (37% upside). Levy expected Tesla's 2Q deliveries of 242,000, missing the consensus of ~280,000 due to the Shanghai COVID shutdown. Moreover, given the lower delivery outlook, the associated margin impact, and an expected Bitcoin impairment, he…

Evening Standard

Tech & Science Daily: Electric car falls from third floor of Shanghai building

Chinese electric carmaker NIO’s revised a statement it issued following the deaths of two test drivers which emphasised that the accident wasn’t “related to the vehicle itself”.

The Independent UK

Chinese electric car brand NIO says 2 killed in vehicle fall

The Chinese electric car brand NIO says two employees involved in testing died when one of its vehicles fell three stories from a parking structure in Shanghai

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Asharq Al-Awsat

H&M Closes Shanghai Flagship Store, Hurt by Lockdowns and Consumer Backlash

H&M has shut its flagship Shanghai store, its latest closure in China where consumer demand has slumped amid COVID-19 lockdowns and the fast-fashion retailer has borne the brunt of a backlash against companies that refuse to use Xinjiang cotton. Although it was open earlier this month, the three-storey building in…

The Guardian - UK

Two killed after Chinese electric car falls from third floor of company’s offices

Nio criticised over statement that said accident at Shanghai HQ was ‘not caused by the vehicle’

Evening Standard

Two test drivers killed as Nio electric car plummets out of office building in Shanghai

Social media users criticised Nio’s statement claiming the incident was an “accident” not caused by issues with the vehicle

The Independent UK

Two killed as Nio electric car falls from third floor office in Shanghai

The passengers lost control of the car in the parking area before they smashed through the windows

Benzinga

Energy Monster Expands Its Reach, But Gets Bitten by Covid

Key Takeaways: • Leading power bank provider Smart Share Global’s revenue fell 13% in the first quarter as it suffered from pandemic lockdowns • Company hopes to improve performance with more efficient new power bank cabinet set to launch by the end of this year

Benzinga

Tesla Said To Be Planning 2-Week Halt At Giga Shanghai In July

Tesla Inc (NASDAQ: TSLA) plans to halt most of its production at Giga Shanghai in the first two weeks of July to upgrade the site, Reuters reported on Wednesday, citing an internal memo.

Benzinga

Two Nio Workers Die As Test Vehicle Falls Off Building In China: Report

Two Nio Inc (NYSE: NIO) employees died after a camouflaged Nio car reportedly fell from the fifth floor of the Shanghai headquarters.

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