Tesla under pressure from Shanghai factory halt

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Tesla investors will be keeping an eye on whether the electric car company maintains its ambitious 2022 delivery target as the biggest factory, Shanghai, grapples with a Covid-19 shutdown and new plants slowly ramp up output.

Tesla reports quarterly results and analysts are also asking whether CEO Elon Musk will discuss his $43 billion proposal to buy Twitter and if he will use some of his Tesla shares to help fund the deal.

Tesla navigated the global supply chain crisis better than other rivals, posting record deliveries and earnings for several quarters. But its factory in Shanghai was suspended for more than three weeks, after the city rolled out lockdown measures to combat a surge in Covid-19 cases."I'll be looking for more long-term commentary for management.

Musk delivered Tesla's first Texas-made Model Y vehicles at a glitzy event early this month, but no Texas vehicles are listed on Tesla's order website yet.

 

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