Tesla new car facilities, Musk says, are “losing billions of dollars”

• Tesla’s factories in Austin, Texas and Berlin are “losing billions of dollars” as they struggle to increase production.
• Shortages of batteries and China port issues are the cause, he tells Tesla Owners Silicon Valley club
• The club is an official Tesla club; an official member of the car maker’s community.

Tesla new car facilities, Musk says, are “losing billions of dollars”, Shortages of batteries and China port issues are the cause. “At the moment, the factories in Austin and Berlin are both enormous money furnaces. Okay? In an interview with Tesla Owners Silicon Valley; an official Tesla recognised group; on May 31, Musk said, “It’s truly like a gigantic roaring sound, which is the sound of money on fire.

The final segment of the club’s three-part interview with Musk was made public on Wednesday.

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Due to difficulties increasing production of its new “4680” batteries; and the fact that the tools needed to create its traditional 2170 batteries are “locked in port in China”;  Musk claimed Tesla’s Texas factory only produces a “tiny” number of cars.

He described the Shanghai COVID shutdowns in China as “very, very difficult.” Tesla’s California plant, which uses some auto parts made in China.

He claimed that Tesla’s top priority is “How do we keep the factories running; so we can pay employees and avoid going bankrupt.”

Musk stated earlier this week that a 10% reduction in Tesla’s salaried workforce will take place; over the course of three months.
The richest guy in the world said that a US recession; was more probable than not.

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