Tesla braces for earnings hit, but EV delivery outlook is key

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Reuters UK

By Hyunjoo Jin and Nivedita Balu (Reuters) – Tesla Inc’s second-quarter results on Wednesday are expected to show the strains of China’s COVID-19 lockdown and protracted startups of new factories. Investors want to know if the end of the year will be much better. Tesla has started layoffs, following through on a plan by Chief Executive Elon Musk, who said he had “a super bad feeling about the economy” in June. He also has said Tesla’s new factories in Austin, Texas, and Berlin are “gigantic money furnaces” which are losing billions of dollars. Add to that concerns about growing competition fro…

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