Tesla's new car factories in Germany and Texas lose 'billions of dollars' due to production shortage of batteries, China port issues says company's CEO Elon Musk
Tesla's Chief Executive Elon Musk said that the company's new factories in Texas and Germany are"gigantic money furnaces" as they struggle with production due to a battery shortage and China port issues.
"Both Berlin and Austin factories are gigantic money furnaces right now. Okay? It's really like a giant roaring sound, which is the sound of money on fire," Musk said in an interview with Tesla Owners Silicon Valley, an official Tesla recognised club, in Austin, Texas, on May 31. The Shanghai Covid shutdowns in China "were very, very difficult," he said. The shutdown affected car production not only at Tesla's Shanghai factory, but also at its California plant, which uses some vehicle parts made in China.
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