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Elon Musk: Berlin, Austin Gigafactories Are 'Gigantic Money Furnaces'

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Tesla isn't immune to a combination of the coronavirus pandemic and China's zero-COVID policy, in fact it's losing billion of dollars.

As Reuters reports(Opens in a new window), CEO Elon Musk recently gave an interview with Tesla Owners of Silicon Valley, during which he made it clear how bad the situation is for both the Berlin and Austin gigafactories right now.

For Austin, it's a combination of not being able to produce high quantities of the new 4680 batteries and an inability to create the older 2170 batteries because the tooling is stuck in a port in China.

Musk said it's going to more effort to get the Austin factory to high-level production than it did to build. Berlin is suffering a similar situation, but can at least manufacture 2170 batteries that are used in some of the electric vehicles it produces.

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