Tesla CEO Elon Musk has called the car manufacturer's new factories in Berlin and Austin 'gigantic money furnaces' that are losing billions of dollars, while the production stays down, Bloomberg reported.
As the Tesla brand has grown in popularity, the company has worked to establish more factories to increase its production capacity and also ease the distribution of its cars in its biggest markets. Giga Berlin has been in the works since 2019, and the factory began production earlier this year with an estimated capacity to build 500,000 cars annually, in the future.
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