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New Tesla factories losing billions of dollars, Musk says

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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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