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BREAKING
Political aide to the governor of Gilan Province in northern Iran: Air defenses in Rasht shot down a small hostile drone flying over the city
Israeli media: The presence of General Qaani at the “victory celebrations” in Tehran puts an end to the rumors and earlier reports claiming he had been assassinated
Israeli media: There is division within the US administration itself over the extent of what the strikes on Iran’s nuclear facilities actually achieved
Israeli media: US intelligence also says Iran’s centrifuges remained largely intact
Israeli media: Netanyahu and Trump celebrated too soon, as US intelligence says Iran’s uranium stockpile was not damaged
Israeli Channel 13: The objectives set by Netanyahu for the operation against Iran have not been achieved
Early US intel assessment suggests strikes on Iran did not destroy nuclear sites, CNN reports, citing sources
Israeli media platform: An additional soldier has been confirmed killed in the serious incident in Gaza, who had previously been considered "missing" for some time
Pezeshkian: History will not forget how Iran’s enemies broke their pledges and agreements, resorting to aggression and invasion even during negotiations
Israeli media: Between 14 and 16 soldiers were injured in the incident, which reportedly involved two separate units at the brigade and division level

Musk says new Tesla factories losing billions

  • By Al Mayadeen English
  • Source: Agencies
  • 23 Jun 2022 16:05
2 Min Read

Due to battery shortages and supply interruptions in China, Elon Musk claims that Tesla's planned plants in Germany and the US are "losing billions of euros."

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  • Musk says new Tesla factories losing billions
    Musk says new Tesla factories losing billions

Elon Musk revealed in an interview published on Wednesday that Tesla's new facilities in Texas and Germany are "losing billions of dollars" as the electric vehicle manufacturer struggles with production as a result of supply chain breakdowns and battery shortages.

"Both Berlin and Austin factories are gigantic money furnaces right now," said Musk 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."

As he revealed employment cutbacks of up to 3.5 percent, Musk told Bloomberg earlier this week that supply shortages pose the largest threat to Tesla's ability to grow.

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Musk said in his interview with the Tesla Owners of Silicon Valley that pandemic-related shutdowns in China this year had proven "very, very difficult" for both Tesla's Shanghai factory and other plants elsewhere.

The Austin factory in particular was "losing insane money" as it faced challenges producing Tesla's new 4680 batteries and "the tooling necessary" for making its conventional 2170 batteries "is stuck in China," Musk said.

"Overwhelmingly our concern is, how do we keep the factories operating so we can pay people and not go bankrupt?"

Read next: Tesla stockholders ask judge to silence Musk in fraud case

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  • Germany
  • China
  • Elon Musk
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