$283M GAAP operating income; 4.7% operating margin in Q1
$16M GAAP net income; $227M non-GAAP net income (ex-SBC) in Q1
Gross margin at Giga Shanghai approaching level of US-made Model 3
Model Y gross margin positive in Q1

Tesla missed qualifying for the SP500 because they did not overcome the 2019 Q2 loss with profits in 2019Q3, 2019Q4 and 2020Q1. However, they will qualify after 2020Q2 if they do not have a GAAP loss. The last quarter before SP500 inclusion must be profitable.

Automotive gross margin of 25.5%, as well as total gross margin of 20.6% both, reached their highest levels in 18 months.

Tesla Shanghai will hit 4000 vehicle per week production by mid-2020. They have the capacity installed to exceed 500,000 vehicle deliveries this year, despite announced production
interruptions. For our US factories, it remains uncertain how quickly we and our suppliers will be able to ramp production after resuming operations. They are coordinating closely with each supplier and associated government