Fri, May 6th, 2022 - 4:11pm
June 26, 2022 - 6:00pm | By Kyle Cornell
(Austin, TX) -- Tesla CEO Elon Musk says the electric automaker's new factories in Texas and Germany are "losing billions of dollars."
In an interview with Tesla Owners of Silicon Valley, released Thursday, Musk said, "Both Berlin and Austin factories are gigantic money furnaces right now."
Musk's comments follow up on a Bloomberg interview earlier this week when he said supply constraints are the biggest threat to Tesla's growth and he confirmed cutting up to three and-a-half percent of the company's workforce. Musk told the Tesla owners' group that pandemic-related shutdowns in China have created big problems for the company's Shanghai factory and plants in other parts of the world.