Musk: Tesla's new factories 'losing billions'

STORY: Elon Musk says Tesla’s new factories in Berlin and Texas are “losing billions of dollars”.

That’s due to a shortage of batteries and issues with supplies coming via Chinese ports.

Musk made the comments in an interview with a U.S. Tesla owners’ club.

He described the factories as “gigantic money furnaces”, which make a roaring sound like the noise of money on fire.

Musk said the Texas factory only produces a “tiny” number of cars, because of challenges in boosting battery production.

He described the Berlin factory as being in a “slightly better" condition.

That’s because it uses an older battery technology that is less affected by delays.

Musk described the recent lockdown-driven stoppages at the firm’s Shanghai plant as “very, very difficult”.

They also hit production in California, which relies on parts from Shanghai.

Musk said the last two years were an “absolute nightmare” of supply disruptions - and said the problems weren’t done yet.

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