Tesla CEO Elon Musk says new Tesla car factories are losing billions of dollars. The factories in Germany and Texas are experiencing excessive costs and supply chain problems.
These are the new Tesla factories in Grünheide, Germany, and Austin (Texas) in America. Speaking to the Tesla Owners of Silicon Valley, a club of Tesla owners, Musk called both factories “giant money-burning furnaces.”
The battery shortages for electric cars in particular are causing major problems. “The focus is now on keeping the factories going so they don’t go bankrupt,” said the multi-billionaire.
Musk previously indicated that jobs at Tesla would disappear in order to cut costs. He is said to have a “super bad feeling” about the economy. As a result, the entrepreneur is said to be planning to lay off 10 percent of the workforce.
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