Skip to content
global forex
Menu
  • Business
  • Economy
  • Forex
  • Internet
    • Technology
  • Markets
    • Stock market
  • online trade
  • Personal Finance
  • Contact Us
Menu
Public News Time

Tesla Factories Losing Billions Due To Battery Shortages And China Woe

Posted on June 24, 2022 by global forex

Tesla factories in Texas and Berlin ‘losing billions’ due to shortage of batteries and Shanghai shutdown, says Musk

By Daily Mail City & Finance Reporter

Published: 17:14 EDT, 23 June 2022 | Updated: 17:49 EDT, 23 June 2022

Losses: Tesla boss Elon Musk (pictured) said its Texas and Berlin factories were ‘gigantic money furnaces’

Elon Musk said Tesla’s car factories in Texas and Berlin are ‘losing billions of dollars’ as they struggle to increase production because of a shortage of batteries and Chinese port issues.

‘Both factories are gigantic money furnaces right now,’ the electric car maker’s chief executive said in an interview released on Wednesday.

‘It’s really like a giant roaring sound, which is the sound of money on fire. Supply chain interruptions have been extremely severe.

‘Overwhelmingly our concern is how do we keep the factories operating so we can pay people and not go bankrupt.’

The 50-year-old said the Covid-19-related shutdowns in Shanghai ‘were very, very difficult’. 

He added: ‘The past two years have been an absolute nightmare of supply chain interruptions, one thing after another, and we’re not out of it yet.’

Advertisement

Share or comment on this article:

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • google search engine seo tutorial for beginners
  • Dividend stocks for beginners profit from investing
  • How to earn from Tiktok
  • Learn to profit from gold trading
  • How to invest money and make it work for you
©2023 | Design: Newspaperly WordPress Theme