Tesla Has Q1 Profit, Ford and Rivian Scrap Plans to Build EVs

Tesla Has Q1 Profit, Ford and Rivian Scrap Plans to Build EVs

CNBC reported yesterday that despite factory closures in China and the U.S., Tesla managed to eke out $16M in profit in the first quarter of the year, but it remains unclear how quickly its U.S. car plant and suppliers can ramp up production once it re-opens from Covid-19 restrictions

Why This Matters: The COVID pandemic is a setback for many industries — but particularly ones working to get off the ground like electric vehicle manufacturing.

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