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Elon Musk Says New Tesla Plants Are ‘Money Furnaces’ Losing Billions

  • CEO calls Berlin, Austin plants ‘gigantic money furnaces’
  • Newly released comments came before layoff announcement
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Musk Says New Tesla Plants Are Losing Billions
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Elon Musk said Tesla Inc.’s new plants in Germany and Texas are losing “billions of dollars” as the electric-vehicle maker tries to ramp up production.

“Both Berlin and Austin factories are gigantic money furnaces right now,” the chief executive officer said in a video interview with Tesla Owners of Silicon Valley posted online Wednesday.