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SAN FRANCISCO – Tesla Inc. is expected to end its nearly two-year-long run of record quarterly deliveries as a prolonged COVID-related shutdown in Shanghai hit its production and supply chain, highlighting the risks of its reliance on China.

While Tesla Chief Executive Elon Musk has been pursuing the acquisition of social media platform Twitter Inc TWTR.N, his crown jewel, Tesla, has grappled with production glitches in China and slow output growth at new factories in Texas and Berlin.

Analysts expect Tesla to report deliveries of 295,078 vehicles for the second quarter as early as Friday, according to Refinitiv data. Several analysts have slashed their estimates further to about 250,000 due to China’s prolonged lockdown.

This would be down from its record deliveries of 310,048 the preceding quarter, marking Tesla’s first quarter-on-quarter decline in deliveries since the first quarter of 2020.

The world’s most valuable automaker has posted record deliveries every quarter since the third quarter of 2020, weathering pandemic and supply-chain disruptions better than most automakers.

China has been instrumental in Tesla’s rapid increase of vehicle production and Musk has praised workers there for burning the 3 a.m. oil.

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