Elon Musk Says New Tesla Factories Are Losing Billions of Dollars
American billionaire, Elon Musk has revealed that the new Tesla factories in the US and Germany are “losing billions of dollars” as a result of the battery shortages and supply disruptions in China.
Must went ahead to label the plants in Berlin and Austin, Texas “gigantic money furnaces” even as the Covid-19 lockdowns in China in 2022, including in Shanghai where Tesla has a huge factory, have made it increasingly difficult for manufacturers to operate.
It should be recalled that Musk had warned of job cuts at Tesla in recent weeks.
He exlained that “both Berlin and Austin factories are gigantic money furnaces right now. It’s really like a giant roaring sound, which is the sound of money on fire.”
He added that not only are the plants losing billions of dollars but “there’s a ton of expense and hardly any output.”
