Tesla (NASDAQ:TSLA) halted production at its Shanghai plant on Monday on account of supply issues, per a report from Reuters. It remains unclear when the facility will resume production.
Covid-19 related lockdowns and disruptions in China are hurting Tesla’s local suppliers.
The Shanghai plant was already shut for a while in April due to Covid-19 restrictions and the recent developments indicate that Tesla may not be able to make up for the production shortfall, possibly hurting its Q2 deliveries from China. TSLA stock remains down by over 24% year-to-date.
|S&P 500 Return||-3%||-16%||79%|
|Trefis Multi-Strategy Portfolio||-7%||-22%||205%|
 Month-to-date and year-to-date as of 5/11/2022
 Cumulative total returns since the end of 2016