Tesla investors will be watching on Wednesday to see if the electric vehicle manufacturer can meet its goal 2022 delivery target as its largest factory, Shanghai, deals with a COVID-19 closure and new factories ramp up production slowly.
Tesla publishes quarterly earnings, and analysts wonder if CEO Elon Musk will mention his $43 billion bid for Twitter and whether he will use any of his Tesla stock to help fund the acquisition.
Analysts believe Tesla’s first-quarter earnings were impacted by the COVID-19-related suspension of its Shanghai facility, as well as the costs of ramping up new operations in Berlin and Texas.
Tesla’s volume increase will comfortably exceed 50% from last year, Musk stated in January, implying that the company will deliver more than 1.4 million vehicles this year.
Tesla outperformed its competitors in navigating the global supply chain problem, producing record deliveries and earnings for multiple quarters. However, its Shanghai production was shut down for more than three weeks after the city implemented lockdown measures in response to an increase in COVID-19 cases.
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