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Environment

Elon Musk says new Tesla factories are "money furnaces" that are "losing billions of dollars"

Elon Musk Tesla Inc. Austin

Tesla's new plants in Texas and Germany are "losing billions of dollars" as the electric car maker struggles with production due to supply chain disruptions and battery shortages, Elon Musk said in an interview released Wednesday.

What he's saying: "Both Berlin and Austin factories are gigantic money furnaces right now," Musk said in the interview with Tesla Owners of Silicon Valley, an official Tesla-recognized club, recorded on May 31. "It's really like a giant roaring sound, which is the sound of money on fire."

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