Hyperdrive
Tesla’s China Plant Keeps Coming Through as Elon Musk Hurdles Crises
- RBC says output, deliveries likely driven by Shanghai factory
- Facility has helped carmaker overcome virus, chip disruptions
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Tesla Inc.’s Shanghai factory that was critical to the electric-car leader making it through initial pandemic shutdowns is now playing a crucial role in taking vehicle deliveries another leg higher.
The plant’s ramping up of Model Y sport utility vehicles -- even in the midst of the global chip shortage -- likely drove production growth last quarter, Joe Spak, an analyst at RBC Capital Markets, wrote in a report Monday. Tesla managed to deliver about 241,300 vehicles to customers, exceeding estimates and sending shares up as much as 2.8% before the start of regular trading.