Thursday, May 2, 2024
HomeNew Tesla factories losing billions of dollars, Musk says

New Tesla factories losing billions of dollars, Musk says

Elon Musk says Tesla’s new factories in Germany and the US are “losing billions of dollars” due to battery shortages and supply disruptions in China.

The multi-billionaire also called the plants in Berlin and Austin, Texas “gigantic money furnaces”.

Covid-19 lockdowns in China this year, including in Shanghai where Tesla has a huge factory, have made it increasingly difficult for manufacturers to operate.

In recent weeks Mr Musk has been warning of job cuts at the firm.

“Both…

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