Partial Resumption of Work in China’s Locked-Down Cities Cannot Break Supply Chain Bottlenecks: Analyst

Partial Resumption of Work in China’s Locked-Down Cities Cannot Break Supply Chain Bottlenecks: Analyst
Tesla's China-made Model 3 vehicles on display during a delivery event at its factory in Shanghai, China, on Jan. 7, 2020. Aly Song/Reuters
Kathleen Li
Updated:
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Tesla’s first-quarter 2022 profit hit a record high; but on releasing the results, Tesla also said that the COVID-19 pandemic has brought significant pressure on the company’s supply chain and factory operations. At present, only a fraction of its companies in certain regions in China have resumed work. Experts in China’s industrial economy research admit that any place that resumes work on its own will face bottlenecks in the industrial chain.

On April 21, Beijing time, Tesla’s first-quarter financial report showed that its operating profit was $3.6 billion, a year-on-year increase of 507 percent, and earnings per share attributable to ordinary shareholders was $2.86, a 6.3-fold increase year-on-year. Tesla attributed the surge in revenue to higher vehicle deliveries and higher average vehicle sales prices.

Kathleen Li
Kathleen Li
Author
Kathleen Li has contributed to The Epoch Times since 2009 and focuses on China-related topics. She is an engineer, chartered in civil and structural engineering in Australia.
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