Thursday, June 23, 2022

Musk: Tesla Factories Are Gigantic Money Furnaces

Elon Musk, the tech billionaire behind many companies, including LA's SpaceX, called Tesla's factories in Berlin and Austin "gigantic money furnaces", saying in an interview released on Wednesday that Tesla's car factories are losing billions of dolars due to supply chain disruptions and issues with battery manufacturing. The revelation comes as week after Musk warned that his competitors Lucid and Rivian are on track for bankruptcy. The interview with the Tesla Owners Club was recorded on May 30th.