New York, Jan 20, 2026, 04:59 EST — Premarket
Tesla shares dipped 0.2% to $437.50 in premarket Tuesday following CEO Elon Musk’s announcement that the company will resume its Dojo3 project. Investors watch this closely as a signal of Tesla’s AI development efforts. 1
Timing is key. Tesla’s shares have recently reacted as strongly to AI and self-driving news as to vehicle sales. The company highlights Dojo as a core element of its computing infrastructure for driver-assist features and robotics. 2
Alongside the chip discussions, another issue is gaining attention: Tesla’s production locations and where it can deliver vehicles most cheaply. Changes in tariffs and supply chain policies can swiftly redirect shipments to different factories, directly affecting profit margins.
Canada has entered the discussion. Under a fresh agreement, the country will permit up to 49,000 vehicles annually from China at a 6.1% tariff, with the quota possibly climbing to 70,000 within five years. Half of this quota, however, is set aside for vehicles under C$35,000—excluding Tesla’s pricier models. Tesla, which outfitted its Shanghai factory last year to export a Canada-specific Model Y, could resume shipments “rather quickly,” said Sam Fiorani of AutoForecast Solutions. Yale Zhang at AutoForesight noted Tesla’s simpler lineup and flexible production give it an edge. 3
Supply-chain developments added fresh volatility. Australia’s Syrah Resources announced it struck a deal with Tesla to extend, for the third time, the deadline to fix an alleged breach of their graphite supply contract. The new cure date is now March 16, 2026, pending approval from the U.S. Department of Energy. Syrah maintains it “does not accept it is in default,” but Tesla can still cancel the agreement if the material fails to meet specs by Feb. 9. 4
The upside hinges on autonomy, but that’s also the biggest risk. U.S. auto safety regulators are probing whether Tesla cars broke traffic laws while running its Full Self-Driving system. Tesla just got a five-week extension to respond as the agency digs through thousands of records related to alleged incidents and complaints. 5
The stock barely budged, as traders seemed more eager for concrete data than another Musk tweet. Tesla’s fourth-quarter earnings, set to drop after market close on Jan. 28, remain the next clear trigger. Management will hold a Q&A webcast at 5:30 p.m. Eastern that day.
