Elon Musk has denied the rumored "poor performance" of Tesla in China.

Teslarati reported Monday that the CEO has affirmed that Tesla's Gigafactory in Shanghai is currently running at maximum capacity. Musk said this in a post he shared on X, formerly Twitter, in response to a report alleging that Tesla's EVs are being ignored by Chinese car buyers.

Aside from the alleged snubbing, the wave of advanced models and hybrids gaining more attention in China's EV market is said to cause troubles for Tesla.

"Believing the news is silly," Musk wrote. "Our Shanghai factory is running at max capacity."

Believing the news is silly. Our Shanghai factory is running at max capacity.

— Elon Musk (@elonmusk) September 8, 2024

Last month, longtime Tesla investor Ross Gerber gave up half of his Tesla stocks. He made the move amid concerns over Tesla's sales performance. Gerber even shared that no one seemed to be interested in "buying Tesla's vehicles or robots" anymore.

Reports stated that Gerber had surrendered $60 million worth of stake, leaving his current fund status a total of $50 million. The investor also revealed that he had been gradually lowering his role since he wasn't assured by the company's direction and its likeliness of accomplishing its goals.

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