The daily business briefing: February 14, 2020

Tesla on Thursday acknowledged in an annual financial filing that China’s coronavirus outbreak could hurt its business. “Gigafactory Shanghai was closed for a brief time as a result, before it reopened in February 2020 and rejoined our U.S. factories, which had continued to operate,” the electric-car maker reported. “It is unknown whether and how global supply chains, particularly for automotive parts, may be affected if such an epidemic persists for an extended period of time.” Disruptions caused by the virus could saddle the company with “expenses or delays” that are “outside of our control,” Tesla said. For example, a week-and-a-half delay in ramping up the Shanghai built Model 3 due to a government-required factory shutdown could slightly hurt profitability this quarter, Tesla said. [CNBC]

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