Tuesday, September 27

Tag: tesla factories losing billions

Musk says that Tesla is losing billions of dollars because of Giga Berlin and Giga Texas.
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Musk says that Tesla is losing billions of dollars because of Giga Berlin and Giga Texas.

A Bloomberg story cites Elon Musk as saying that Tesla's planned factories in Berlin and Austin are losing billions of dollars as production remains stalled. As the popularity of the Tesla brand has increased, the firm has attempted to expand its manufacturing capacity and facilitate the distribution of its automobiles in its major markets by building more plants. It's been in the works since 2019, and the factory started production earlier this year with an anticipated capacity of 500,000 vehicles per year. Work began immediately following the announcement of Giga Texas in Austin and the factory was put into operation in April of this year. In order to compete with Tesla's California and Shanghai plants, which are expected to produce 1.5 million vehicles by 2022, these additional pl...