Tesla’s new plants in Germany and Texas are 'losing billions' of dollars, according to CEO Elon Musk.
AFP via Getty Images)
“Both Berlin and Austin factories are gigantic money furnaces right now. It’s like a giant roaring sound, which is the sound of money on fire,” Musk said. “Berlin and Austin are losing billions of dollars right now because there's a ton of expense and hardly any output.”Tesla Owners Silicon Valley via Twitterdramatic slowdown in production at its Shanghai plant
“This factory is losing insane money right now because … we should be outputting a lot more cars from the factory versus a very puny amount of cars,” he said. “We had challenges with the 4680 at ramp and with the structural pack at ramp.” “We mark to market our 2Q forecasts for lower volume with most of the shortfall made up for in 2H volume and higher pricing,” Jonas said.
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