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Tesla factories lose billions due to battery shortages and China woes

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Tesla plants in Texas and Berlin ‘lose billions’ due to battery shortages and Shanghai shutdown, Musk says

Losses: Tesla boss Elon Musk (pictured) said his Texas and Berlin plants were ‘giant money-making furnaces’

Elon Musk said Tesla’s auto plants in Texas and Berlin are “losing billions of dollars” as they struggle to increase production due to battery shortages and Chinese port problems.

“Both factories are huge money-making centers at the moment,” the chief executive of the electric car maker said in an interview released Wednesday.

“It really is like a giant roaring sound, the sound of money on fire. The supply chain disruptions have been extremely severe.

“Our biggest concern is how we can keep the factories running so we can pay people and not go out of business.”

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 disruptions, one after the other, and we’re still not over it.”

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