Tesla blames misprinted label for China customs hiccup

BENGALURU/SHANGHAI (Reuters) - Tesla Inc said on Tuesday that China's customs authorities have accepted the electric carmaker's plan to resolve problems with the clearance of its Model 3 sedans that centred around misprinting of labels. Shares in Silicon Valley billionaire Elon Musk's company fell more than 5 percent in early trading after Chinese media reported Shanghai customs had suspended clearance for a batch of Tesla's cars. "We have already reached a resolution with Chinese customs, and we are working closely with them to resume clearance procedures on these vehicles," a Tesla spokesperson said in a statement.

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