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Veronika Szűcs Rajničová
June 23, 2022, 9:24am
Reading time: 0:47

Elon Musk Admits New Tesla Factories Lost Billions Of Dollars Due To Factory Problems. He Called Them Money Furnaces.

At the beginning of June, the billionaire has announced mass dismissal of employees from the car company because he fears difficult times are coming. He now has more bad news.

Veronika Szűcs Rajničová
June 23, 2022, 9:24am
Reading time: 0:47
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„The factories in Berlin (Germany) and Austin (Texas) are nor gigantic money furnaces. You can hear a loud roaring sound, which is the sound of burning money," said Musk during an interview with the club of Tesla owners in Silicon Valley (Tesla Owners Silicon Valley). 

 

Based on his words, the Texas factory only makes a small amount of vehicles. They are having trouble making enough batteries and they were also affected by ships stuck in Chinese ports. 

 

As stated by Business Insider, the problems with deliveries are one of the biggest problems of the company in the long term. 

 

The billionaire has shared his concerns that he will not save the factories from bankruptcy. He has announced the dismissal of 10% of Tesla employees at the beginning of June. He later corrected himself that the final number is around 3.5%

Source: Tesla

 

Musk has also recently announced that Tesla may launch advertisements which will counter "biased news of the media". Allegedly, they do not like him because he does not pay for trade-paper advertisements. For years, he has stated that he hates marketing. "Tesla does not have advertisements. Instead, we will use the money for development to improve the product," cited  Electrek.

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