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Tesla's Musk requests first-quarter 'slow down' in deliveries in Norway: reports

Tesla CEO Elon Musk has asked for a slowdown in deliveries in Norway within the first quarter. An earlier model of this newsletter incorrectly said he was asking for a production slowdown. The error has been corrected.

Tesla CEO Elon Musk has asked for a slowdown in deliveries of his electrical cars in Norway, citing issues tied to the native production supply chain. According to CNBC, referencing a local business newsletter, Electrek, the Palo Alto, Calif.-based automotive maker's issues in Oslo are related to a dearth of "competent transporters" that comply with native street laws. Shipments were liable to accidents, the reports said. Electrek characterised Norway as Tesla's biggest "market per capita." Via Twitter, Musk said "I have just asked our team to slow down deliveries. It is clear that we are exceeding the local logistics capacity due to batch build and delivery. Customer happiness & safety matter more than a few extra cars this quarter." Tesla's shares TSLA, -2.45% closed down 2.five% on Friday, registered a 6.2% weekly decline, and are down three.2% so far in 2018. By comparability, the Dow Jones Industrial Average [:DJIA] is down four.eight% up to now in 2018, whilst the S&P 500 index SPX, -2.10% is on target for a year-to-date drop of three.five%, the majority of that year-to-date decline for the benchmarks were generated during the last week of trading, as buyers nervous about geopolitics and the specter of a industry warfare. Tesla is about to file its quarterly results on May three, consistent with FactSet data.