XPEV - Tesla supply chain problems are paramount concern - Musk

Tesla (NASDAQ:TSLA) CEO Elon Musk told an audience in Qatar that supply chain issues are the biggest roadblock to the automaker’s growth at present. He explained that production has been hindered by raw material shortages and shutdowns of assembly lines in China. As such, the company has been struggling to meet still-strong demand for its vehicles. This dislocation, alongside well-understood slowdowns in China amid the spring’s lockdowns, has created conditions for a “very tough quarter” for the EV manufacturer. Elsewhere, Musk commented Chinese EV competition and ruminated on the prospects for a recession in the near future. For the former question, Musk praised the Chinese competitors like Nio Inc. (NIO) and Xpeng (XPEV), explaining that he has been impressed with their performance. In terms of recession, Musk was more pessimistic about its prospects. “A recession is inevitable at some point,” he told the audience in Qatar. “As to whether there

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Tesla supply chain problems are paramount concern - Musk