Search
Close this search box.
Search
Close this search box.

Tesla’s New Factories Losing Billions of Dollars, Says Musk

Elon Musk's India Dream

Elon Musk stated in an interview published this week that Tesla’s newest car factories in Texas and Germany are losing “billions of dollars right now” as supply chain disruptions impede the electric vehicle giant’s ability to ramp up production.

“Both Berlin and Austin factories are currently enormous money-making furnaces. OK?” Musk stated in an interview with Tesla Owners Silicon Valley, which was recorded on May 30 and published on May 31 that the sound should be comparable to “the sound of money on fire”.

“Berlin and Austin are currently losing billions of dollars due to excessive expenditures and a lack of output. We are preoccupied primarily with restoring Berlin and Austin to full functionality and regaining Shanghai’s footing. Everything else is relatively insignificant.”

Musk stated that the Texas factory is currently “losing insane amounts of money” due to production problems with Tesla’s latest battery technology, the so-called 4680 battery. In the meantime, the tools needed to manufacture cars for the traditional 2170 batteries are “stuck in a Chinese port.”

Musk stated, “Trying to keep factories operational over the past few years has been a very difficult task, as supply chain interruptions have been severe, like extremely severe.”

The past two years have been a nightmare of supply chain disruptions, one after the other, and we are not yet out of the woods.

In recent weeks, the resurgence of Covid in China led to lockdowns in major cities such as Shanghai. Tesla’s plant is located in Shanghai, China. Reuters reported on Wednesday that Tesla plans to suspend the majority of production at this factory during the first two weeks of July in order to perform upgrades.

Musk has since announced that Tesla will reduce its salaried workforce by 10% over the next three months. However, the company intends to increase its hourly workforce. Musk stated this week that Tesla’s layoffs would affect approximately 3.5 percent of its total workforce.

Musk stated in April that despite the supply chain issues, Tesla still intends to produce 1.5 million vehicles this year, but customers should expect lengthy wait times.

Apart from this, if you are interested, you can also read EntertainmentNumerologyTech, and Health-related articles here: Rush Limbaugh net worth, Gotham Season 7, Parag Agrawal Net WorthTara Reid Net Worth, Blonde Trailer Fastest VPN for PCWPC18Highest Paid CEO in India 2022Highest paid athletes 2022My5 TV ActivateKissmangaWPC16Highest Paid CEO 2022Grey’s Anatomy Season 19WPC15Alexa.com Alternatives

The Resident Season 6Kraven The HunterOne Punch Man season 3The Resident Season 5Yellowstone season 5Ozark season 4 part 2How to Remove Bookmarks on MacOuter Banks Season 4How to block a website on ChromeHow to watch NFL games for freeDesireMovies, How to watch NFL games without cableHow to unlock iPhoneHow to cancel ESPN+How to turn on Bluetooth on Windows 10Outer Banks Season 3

6streams4AnimeMoviesflix123MKVMasterAnimeBuffstreamsGoMoviesVIPLeagueHow to Play Music in DiscordVampires Diaries Season 9Homeland Season 9Brent Rivera Net WorthPDFDriveSmallPDFKnightfall Season 3CrackstreamKung Fu Panda 41616 Angel Number333 Angel Number

666 Angel Number777 Angel Number444 angel numberBruno Mars net worthKissAnimeJim Carrey net worthBollyshareAfdahPrabhas Wife NameProject Free TVKissasianMangagoKickassanimeMoviezwapJio RockersDramacoolM4uHDHip DipsM4ufreeFiverr English Test AnswersNBAstreamsXYZHighest Paid CEOThe 100 season 8, and F95Zone

Thanks for your time. Keep reading!


Subscribe to Our Newsletter

Related Articles

Top Trending

enjoy4fun
Discover a World of Exciting Gaming in Enjoy4fun [How to Guide]
Netflix Rust Creek Top 5 US
Rust Creek: Netflix's Sleeper Hit Survival Thriller in US Top 5
A True Relationship Is Two Imperfect People Refusi - Tymoff
A True Relationship Is Two Imperfect People Refusi - Tymoff
Hanuman Jayanti 2024
Hanuman Jayanti 2024: 80+ Wishes, Quotes and Messages to Share
Google Gemini Boost Speed on Android Devices
Google Gemini Set to Boost Speed on Android Devices!

LIFESTYLE

Most Expensive Handbags for Women in the World
Elegance Redefined: 10 Most Expensive Handbags for Women in the World
Gift Ideas for Men
10 Thoughtful and Unique Gift Ideas for Men Who Have Everything
pohela boishakh 2024
Pohela Boishakh: Celebrating Bengali Culture and Heritage Festivities
Korean Beauty Secrets
10 Korean Beauty Secrets for Youthful Energy: Stay Young & Vibrant
Ancient Philosophers Guide to Happiness
Unlocking Happiness: Timeless Lessons from Ancient Philosophers

Entertainment

enjoy4fun
Discover a World of Exciting Gaming in Enjoy4fun [How to Guide]
Netflix Rust Creek Top 5 US
Rust Creek: Netflix's Sleeper Hit Survival Thriller in US Top 5
armitage hobbit firing fears revealed
"I Didn't Even Unpack": Armitage Reveals The Hobbit Firing Fear
LiL Baby Net Worth 2024
Lil Baby Net Worth 2024: A Comprehensive Look At The Rapper's Financial Success
The 1982 Movie Poltergeist Used Real Skeletons As - Tymoff
The 1982 Movie Poltergeist Used Real Skeletons As - Tymoff

GAMING

enjoy4fun
Discover a World of Exciting Gaming in Enjoy4fun [How to Guide]
Online Poker Trends for 2024
Online Poker Trends for 2024
unblocked games 67
How to Play Unblocked Games 67 Without Blocking Your Network [Gamer's Review]
F95zone
F95Zone: A Hub for Adult Games, Comics, and Community Interaction in 2024
Jojoy Minecraft
My Experience With Jojoy Minecraft in 2024 [Image Guide and Tips]

BUSINESS

Analysts Chase Top Delivery Stock
Analysts Scramble to Keep Pace with Leading Delivery Stock
Tesla Hacked
Tesla Disbands New Marketing Team Just Months After Formation: Report
World Richest Families
Power and Wealth: Top 10 World's Richest Families in 2024
Optimize Sales and Improve Employee Morale
How To Optimize Sales and Improve Employee Morale in Your Business
netflix profit boost password sharing crackdown
Netflix's Profits Soar Amid Password Sharing Crackdown

TECHNOLOGY

Google Gemini Boost Speed on Android Devices
Google Gemini Set to Boost Speed on Android Devices!
Mona Lisa Raps in Viral AI Video
Mona Lisa Raps in Viral AI Video: Microsoft's VASA-1 Stuns!
pdfdrive
How PDF Drive Became My Go-To Resource for Free EBooks and Documents [User Review]
OpenAI
OpenAI Expands to India: Welcomes Pragya Misra as First Employee
OpenAI Responds Elon Musk Revisionist
OpenAI Responds to Elon Musk's 'Revisionist History' Accusations

HEALTH

Intermittent Fasting
Unlocking the Power of Intermittent Fasting: Expert Tips Revealed
disease x
Disease X: Scientists Predict Virus Could Spark Next Global Pandemic
A Comprehensive Experience with Dr. Aravind Bhateja
A Comprehensive Experience at Sparsh Hospital in Bangalore with Dr. Aravind Bhateja
why veterans choose Out of Town Rehab
Finding Freedom: Why Veterans Should Opt for Out-of-Town Rehab?
Rock Hudson Last Days
Rock Hudson's Last Days: The Untold Story of His Final Moments