PALO ALTO, U.S. -- Tesla reported blockbuster first quarter results Wednesday after the bell, defying ongoing supply chain challenges. However, the U.S. electric vehicle maker warned of a tough road ahead, as its main production hub -- Shanghai Gigafactory -- was forced to close for three weeks in April and only recently resumed limited production.
"While weekly production rates were strong in Q1, a spike in COVID-19 cases in Shanghai resulted in the temporary shutdown of our factory as well as parts of our supply chain," Tesla said in an earnings release.
