SAN FRANCISCO: 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.
Musk said in January that Tesla's volume growth would comfortably exceed 50 per cent from last year, meaning that Tesla expects to deliver more than 1.4 million vehicles this year. "The Shanghai restart cadence the Berlin/Austin ramp add an element of uncertainty to 2022 deliveries," Credit Suisse analyst Dan Levy said in a client note, cutting its delivery estimates by 100,000 to 1.42 million this year.
The Austin, Texas-based company is expected to report US$17.80 billion revenue for the January-to-March quarter, up over 70 per cent from a year earlier, but largely unchanged from the previous quarter, according to Refinitiv data. "It'll probably be a while before the Texas factory can get up to full speed," Guidehouse Insights analyst Sam Abuelsamid said, citing challenges of launching volume production of 4680 cells likely to be used in the Texas vehicles."You have a lot of fixed costs to get the new plants up and running, but not a lot of production to spread the costs around," Morningstar Analyst Seth Goldstein said.
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