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

Tesla CEO Elon Musk has asked for a slowdown in manufacturing of his electric automobiles in Norway, mentioning issues tied to the local manufacturing provide chain. According to CNBC, referencing a local industry newsletter, Electrek, the Palo Alto, Calif.-based car maker's issues in Oslo are related to a dearth of "competent transporters" that agree to local highway regulations. Shipments were at risk of accidents, the reports stated. Electrek characterised Norway as Tesla's biggest "market per capita." Via Twitter, Musk stated "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 stocks TSLA, -2.45% closed down 2.five% on Friday, registered a 6.2% weekly decline, and are down three.2% thus far in 2018. By comparison, the Dow Jones Industrial Average [:DJIA] is down four.eight% to this point in 2018, while the S&P 500 index SPX, -2.10% is on the right track for a year-to-date drop of three.five%, the majority of that year-to-date decline for the benchmarks were generated over the last week of buying and selling, as traders fearful about geopolitics and the specter of a trade struggle. Tesla is about to record its quarterly effects on May three, consistent with FactSet data.