Tesla Inc (NASDAQ:TSLA) shares closed almost 4% lower on Tuesday after it was reported the electric vehicle maker will be pausing production of its Cybertruck and Model Y vehicles for a week starting June 30.
The pause is intended to allow Tesla to perform maintenance and improvements on the production lines, according to a Business Insider report.
Tesla indicated these improvements will support a ramp-up in production but did not specify which lines may see increased output, the publication said.
During the shutdown, employees can reportedly take paid time off or participate in training and other activities.
This production pause follows a similar week-long shutdown in late May and a three-day pause in December attributed to battery supply issues.
Production pauses are not unusual in the auto industry, often timed around slower sales periods like summer holidays, and allow for routine maintenance or addressing inventory and parts issues.
Meanwhile, Tesla is preparing to launch its Robotaxi service in Austin on June 22, using Model Y vehicles which are equipped with updated Full Self-Driving technology. CEO Elon Musk emphasized the company’s focus on safety, noting that the launch date could be shifted.
Shares of Tesla finished Tuesday’s trading session down 3.9% at about $316.