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Tesla’s Musk highlights chip supply issues in early tweet to Cathie Wood

Tesla's Musk highlights chip supply issues in early tweet to Cathie Wood


Tesla Inc.
TSLA,
-0.31%
Chief Executive Elon Musk took to Twitter Thursday to highlight continued supply chain issues facing the electric-car maker. Musk responded to a tweet from Cathie Wood, manager of the Ark Innovation ETF
ARKK,
-0.12%,
who said Tesla seems to understand “that China would like local champions to dominate electric vehicles (EV) sales inside the country but is pleased that Tesla is exporting from China high-quality/high-end EVs, especially to Europeans whose standards for fit-finish-design are quite high.” He said Tesla makes cars for export in the first half of the quarter and for the local Chinese market in the second half. “As publicly disclosed, we are operating under extreme supply chain limitations regarding certain “standard” automotive chips,” he wrote. “Most problematic by far are Renesas
6723,
-1.85%
RNECY,
+0.09%
& Bosch.” Tesla shares were slightly higher premarket, and have gained 0.3% in the year to date, while the S&P 500
SPX,
+0.25%
has gained 18%.



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