In its first quarterly earnings call since becoming a blue-chip stock on the benchmark S&P 500 index, Tesla (NASDAQ:TSLA) disappointed and missed Wall Street estimates nearly across the board.

The ground-breaking announcement from Baba came in the form of a partnership with China’s largest automaker SAIC Motor, to launch a new electric vehicle sedan in the world’s largest automotive market.

The company said that it delivered 8,578 vehicles in the quarter, representing a surge of 265.8 percent from the same period last year.