China officials accept a solution to Tesla customs issue

People visit a Tesla Model S car during the Auto China 2016 in Beijing, China, April 25, 2016. REUTERS/Jason Lee/File Photo

China’s customs officials have accepted electric automaker Tesla Inc’s plan to remedy concerns with the clearance of imported cars, a source knowledgeable with the matter informed Reuters.

Tesla shares dropped over 5 percent after financial publication Caixin reported previously that China had suspended customs clearance for the automaker’s Model 3 sedans, mentioning various irregularities including inappropriate labeling of the vehicles.

The source did not give any further information about the terms of how the issue was dealt with.

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