Health Epidemics are a Global Risk

©iStock/MarBom

At the end of January, Tesla CEO Elon Musk had downplayed the risk of Novel Coronavirus, but two more weeks with it, the health epidemic instilled a new fear that caused a change of mind.

Tesla’s latest annual 10-K filing revealed a new risk to its business: “health epidemics.” In the filing, the electric automaker said its gigafactory in Shanghai was closed for a brief time as the coronavirus spread in China. “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,” the company said. “We may incur expenses or delays relating to such events outside of our control, which could have a material adverse impact on our business, operating results and financial condition.”

Read more at CNBC's update and get live Novel Coronavirus updates here and here.

from The Global Small Business Blog https://ift.tt/2SL27ZP