Tesla's Chinese Suppliers Sink on Slower EV Timeline
- Elon Musk said car production in China about three years away
- Parts maker Beijing Zhongke slips with Lens Technology Co.
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Chinese companies that supply Tesla Inc. fell Thursday after Elon Musk indicated his pioneering electric car firm won’t start making vehicles in the world’s largest auto market this decade.
Beijing Zhongke Sanhuan High-Tech Co., which said last year that it signed a three-year agreement to supply parts to Tesla, closed down 2.6 percent in Shenzhen. Shanghai-listed Ningbo Joyson Electronic Corp., which identified Tesla as a customer in its 2016 annual report, pared its 3.2 percent loss to 0.6 percent. Fellow suppliers Dongguan Eontec Co. slid 4.4 percent and Lens Technology Co. fell 1.7 percent.