Tesla cruises past analysts’ Q1 expectations, despite production disruptions

Reuters

Tesla earnings may come under pressure from Shanghai factory halt

Tesla investors on Wednesday will keep 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. The COVID-19 related suspension of Tesla’s Shanghai factory, the costs of ramping up new factories in Berlin and Texas and rising supply chain costs are likely to have weighed on its first-quarter earnings, analysts said.