Musk calls Tesla's new factories 'gigantic money furnaces'
"Overwhelmingly our concern is, how do we keep the factories operating so we can pay people and not go bankrupt?" Mr. Musk said in the interview. He added that he expected Tesla to resolve these problems quickly.
In the weeks since the interview was recorded, Tesla has begun layoffs that Mr. Musk indicated could touch 10% of the company's salaried workforce.
Tesla has faced several setbacks in recent months, including higher supplier and logistics costs amid soaring inflation. Governmental Covid-19 restrictions in China also curtailed output at the company's plant in Shanghai, which had been its largest by volume.
Tesla has long relied on finger-sized battery cells made by companies such as Panasonic Corp., but it has been working to develop its own, larger cells in-house. That effort is aimed at reducing the cost of a key component and mitigating the risk of battery shortages.
"Berlin and Austin are losing billions of dollars right now because there's a ton of expense and hardly any output," Mr. Musk said. $Tesla (TSLA.US)$
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TeslaSmurf : NOTHING extraordinary is happening: just ramping up production: when you open a new factory the cost is 100 while the production has to get from 0 to 100 to reach the parity: it usually takes YEARS, but Tesla succeeds in record time (Shanghai became profitable just after one year and a half paying all the costs). What NEWS do you see ? I see only FUD.
Don’t get FUDded: they pump this kind of non-news to generate fear and get your money.
Brandony OP TeslaSmurf :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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