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Tesla’s Musk Signals Optimism on End to ‘Supply Chain Hell’

  • EV maker reports dip in earnings but manages to top estimates
  • CEO thinks inflation will decline toward the end of the year
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Tesla Second-Quarter Profits Top Estimates
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Tesla Inc. has been going through “supply chain hell,” but Elon Musk believes the electric-car maker stands a chance of emerging from it in the second half of the year.

The chief executive officer tempered his optimism while discussing Tesla’s better-than-expected earnings, emphasizing how challenging it’s been to secure parts and materials. Tesla sold roughly 75% of its Bitcoin holding due to concerns about the company’s liquidity last quarter, when its Shanghai plant shut for weeks.