{"id":10451,"date":"2022-06-23T14:03:58","date_gmt":"2022-06-23T14:03:58","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says"},"modified":"2022-06-23T16:33:18","modified_gmt":"2022-06-23T16:33:18","slug":"new-tesla-factories-losing-billions-of-dollars-musk-says","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says","title":{"rendered":"New Tesla factories losing billions of dollars, Musk says"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>Elon Musk says Tesla’s new factories in Germany and the US are “losing billions of dollars” due to battery shortages and supply disruptions in China.<\/b><\/p>\n

The multi-billionaire also called the plants in Berlin and Austin, Texas “gigantic money furnaces”.<\/p>\n

Covid-19 lockdowns in China this year, including in Shanghai where Tesla has a huge factory, have made it increasingly difficult for manufacturers to operate.<\/p>\n

In recent weeks Mr Musk has been warning of job cuts at the firm.<\/p>\n

“Both Berlin and Austin factories are gigantic money furnaces right now. It’s really like a giant roaring sound, which is the sound of money on fire,” said Mr Musk, who is the electric vehicle maker’s chief executive.<\/p>\n

The plants are “losing billions of dollars right now. There’s a ton of expense and hardly any output,” he added in an interview with the Tesla Owners of Silicon Valley, a company-recognised club.<\/p>\n

Mr Musk said the so-called gigafactories have been struggling to increase production since they were opened earlier this year.<\/p>\n

Tesla’s site in Austin currently produces a “tiny” number of cars, partly because some components for its batteries were “stuck” at a Chinese port “with no one to actually move it”, he said.<\/p>\n

“This is all going to get fixed real fast but it requires a lot of attention,” Mr Musk added.<\/p>\n

The interview was recorded at the end of last month but this part of the conversation was only posted on Wednesday.<\/p>\n

Authorities in China locked down a number of its cities earlier this year in response to a surge in Covid-19 infections.<\/p>\n

Tough restrictions were imposed on the movement of people and materials including in the financial, manufacturing and shipping hub of Shanghai.<\/p>\n

Mr Musk said the shutdown of Shanghai was “very, very difficult” for Tesla, which reportedly halted most of its production at its ‘gigafactory’ in the city for weeks.<\/p>\n

The site will largely be closed again for two weeks next month for upgrading works, according to the Reuters news agency, which cited an internal memo.<\/p>\n

This is aimed at boosting the site’s output, bringing it closer to the company’s goal of the plant producing 22,000 cars every week, the report said.<\/p>\n

Tesla did not immediately respond to a BBC request for comment.<\/p>\n

Last week, the company raised the price of its whole range of cars in the US by almost 5%, as the cost of raw materials including aluminium and lithium rose.<\/p>\n

This week, Mr Musk said Tesla planned to shed 3.5% of its global workforce after earlier saying that he had a “super bad feeling” about the economy.<\/p>\n

Meanwhile, German carmaker BMW said on Thursday that it had formally begun production at its new $2.2bn (\u00a31.8bn) facility in the northeastern Chinese city of Shenyang.<\/p>\n

BMW said the plant, which is its third in China, will increase its annual output in the country from 700,000 to 830,000.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. Elon Musk says Tesla’s new factories in Germany and the US are “losing billions of dollars” due to battery shortages and supply disruptions in China. The multi-billionaire also called the plants in Berlin and Austin, Texas “gigantic money furnaces”. Covid-19 lockdowns in China this year, including in Shanghai where Tesla has a […]<\/p>\n","protected":false},"author":84,"featured_media":10450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9,16],"tags":[233,337,329],"class_list":["post-10451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","category-twitter","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nNew Tesla factories losing billions of dollars, Musk says - Angola<\/title>\n<meta name=\"description\" content=\"Elon Musk says Tesla's new factories in Germany and the US are "losing billions of dollars" due to battery shortages ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Tesla factories losing billions of dollars, Musk says\" \/>\n<meta property=\"og:description\" content=\"Elon Musk says Tesla's new factories in Germany and the US are "losing billions of dollars" due to battery shortages ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says\" \/>\n<meta property=\"og:site_name\" content=\"Angola\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-23T14:03:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-23T16:33:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2022\/06\/postQueueImg_8-62b495b4f146b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"New Tesla factories losing billions of dollars, Musk says\",\"datePublished\":\"2022-06-23T14:03:58+00:00\",\"dateModified\":\"2022-06-23T16:33:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says\"},\"wordCount\":500,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2022\/06\/postQueueImg_8-62b495b4f146b.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"homepage-english\",\"miscellaneous\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/new-tesla-factories-losing-billions-of-dollars-musk-says\",\"name\":\"New Tesla factories losing billions of dollars, Musk says - 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