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The Hindu
The Hindu
Lifestyle
Reuters

Musk says Tesla’s new car factories ‘losing billions of dollars’

Elon Musk Berlin Texas

Tesla Inc's new car factories in Texas and Berlin are "losing billions of dollars" as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said in an interview published on Wednesday.

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

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