The Clap
Tesla is expected to report lower than expected earnings as the pandemic has slowed down their startup of new factories.
The Deets
The earnings set to be announced are expected to show the strain caused by the COVID 19 pandemic.
Tesla had already started layoffs, expecting the economy to get worse. Elon Musk had also mentioned that the Tesla factories in Texas and Berlin are losing billions of dollars.
In addition to that, there is increased competition in the EV industry.
Will the earnings be better?
The earnings are expected to be lower. However, investors are awaiting what will be said about the second half of the year. They need a form of reassurance if they are to keep their faith in Tesla.
Pandemic may prove to be too much for Tesla 🚗
