Tesla Inc. is slated to report first-quarter earnings after the bell on Wednesday, with investors zeroing in on production in China and also worrying whether Chief Executive Elon Musk would divide his attention further with his bid for Twitter Inc.
Estimize, a crowdsourcing platform that gathers estimates from Wall Street analysts as well as buy-side analysts, fund managers, company executives, academics and others, is expecting an adjusted profit of $2.47 a share for Tesla. What else to expect: Ongoing lockdowns in Shanghai, China, have raised concerns about Tesla’s factory there.
The Wall Street Journal reported Friday that Tesla and other auto makers were moving to restart plants in Shanghai next week, citing people familiar with the matter. More Chinese cities tightened their pandemic restrictions in the meantime. Tesla recently gave more details about a new variant of the Model Y compact SUVs being produced at its Texas factory, which comes with Tesla’s proprietary 4680 batteries. That model is a standard range all-wheel drive, starting at about $60,000, analysts at Deutsche Bank said.
made in china!