Tesla to reduce shifts at German plant, says production targets are on track

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The comments follow earlier reports that Tesla’s goal of producing 6,000 cars a week at the plant, up from the 5,000-milestone reached in March, was on hold.

The electric automaker has aggressively reduced vehicle prices in many countries this year and is resorting to offering incentives to clear inventory. Despite facing economic headwinds, the company’s production continues to increase, while competition in the electric vehicle market intensifies. According to Tesla Info’s global inventory list, discounts of up to €3,490 (€2 =$1.0942) have been offered for the China-made Model 3, and €3,660 for the Berlin-made Model Y.

French President Emmanuel Macron will meet Musk on Friday, the second time in just over a month, to promote France as a possible site for a second Tesla factory in Europe.

Shares of TSLA are down 0.07% in afternoon trading on Thursday.