Hit by China shutdown, Tesla boosts auto prices and sells bitcoin

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AFP

New York (AFP) – Tesla reported solid quarterly earnings Wednesday despite a hit from Covid-19 lockdowns in Shanghai that Chief Executive Elon Musk said prompted the company to liquidate most of its bitcoin holdings. Musk, who has generated recent headlines over his controversial withdrawal from a $44 billion acquisition of Twitter, said the company had navigated a tricky environment with the Shanghai closure and lingering supply chain problems that have raised costs. The electric vehicle maker reported second-quarter profits of $2.3 billion, about twice that in the year-ago period as the auto…

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