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Tesla worries the financial markets

Due to two months of confinement in April and May in Shanghai, Tesla’s Gigafactory did not run at full speed. Xinhua/Xinhua/ABACA

The manufacturer is caught up in shortages of all kinds due to the pandemic.

Quite a symbol. Tesla is no longer the world leader in electric cars. In the first half of the year, it was overtaken by BYD, which has multi-billion dollar American investor Warren Buffett as a minority shareholder. The Chinese manufacturer delivered 641,000 vehicles against 565,000 for the American brand. For once, visionary Tesla boss Elon Musk was wrong when he said in 2021: “I don’t think BYD has a good product that is particularly attractive.»

But that’s not what panicked Wall Street and caused Tesla’s value to plummet by 38% in the second quarter (it was trading at $692 on Wednesday). First, for the first time in two years, the group has disappointed financial analysts. They expected the brand to produce 264,000 cars in the second quarter. Only 254,695 came out of its chains. What reduce the financial results of Tesla in the first half, which will be presented on July 20.

Credit analysts…

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