Tesla is falling again with Shanghai under a COVID lockdown
Xiaolu Chu/Getty Images News

Tesla (NASDAQ:TSLA) told some suppliers and workers that the Shanghai factory will remain in lockdown until at least April 8 due to soaring COVID cases in the region.
The Shanghai Gigafactory has been closed for production since March 28. Adding in a separate a two-day shutdown in March, Tesla (TSLA) has now lost 12 days of vehicle production in recent weeks including a recent holiday.
Bloomberg reported that much-needed semiconductors are piling up at manufacturers amid a shortage of truck drivers. That slowdown outside of the Gigafactory is not likely to ease quickly.
Amid soaring COVID cases, Chinese authorities extended a lockdown in Shanghai to cover all 26 million residents in a development that is seen as a test of how far the zero-tolerance COVID policy can go in the nation. "Shanghai's epidemic prevention and control is at the most difficult and most critical stage," warned a Chinese health official. A high percentage of the cases in Shanghai over the last few days were reported as asymptomatic.
Shares of Tesla (TSLA) fell 2.47% premarket to $1,064.28 after falling 4.73% on Tuesday.
Read Seeking Alpha author Victor Dergunov's latest breakdown on Tesla.