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Share Dialog
Share Dialog
Tesla, as is its practice, did not respond to a request for comment on its sales and production so far this quarter. Tesla had never previously disclosed its Chinese production numbers prior to Musk's tweet, so the estimate of how many cars it had built there from the CPCA could not be confirmed.
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Shanghai production has been in focus for Tesla investors after being shut by Covid lockdowns for most of the second quarter. That resulted in a rare quarter-to-quarter drop in earnings and sales at Tesla. Musk told investors last month that it was dealing with "supply chain hell" due to the lockdowns.
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Still, investors cheered Musk's tweet, and shares of Tesla (TSLA) closed up 3% Monday. The stock has been on a rally since company reported second quarter results on July 20, climbing 25% during that period. But even with that rise, shares are still down 12% for the year.
Tesla, as is its practice, did not respond to a request for comment on its sales and production so far this quarter. Tesla had never previously disclosed its Chinese production numbers prior to Musk's tweet, so the estimate of how many cars it had built there from the CPCA could not be confirmed.
*
Shanghai production has been in focus for Tesla investors after being shut by Covid lockdowns for most of the second quarter. That resulted in a rare quarter-to-quarter drop in earnings and sales at Tesla. Musk told investors last month that it was dealing with "supply chain hell" due to the lockdowns.
*
Still, investors cheered Musk's tweet, and shares of Tesla (TSLA) closed up 3% Monday. The stock has been on a rally since company reported second quarter results on July 20, climbing 25% during that period. But even with that rise, shares are still down 12% for the year.
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