Elon Musk says new Tesla factories are "losing billions of dollars"

"Both Berlin and Austin factories are gigantic money furnaces right now," said Musk

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"It's really like a giant roaring sound, which is the sound of money on fire."

Musk told Bloomberg earlier this week that supply constraints are the biggest threat to growth for Tesla

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as he confirmed job cuts of up to 3.5%.

The Austin factory in particular was "losing insane money" as it faced challenges producing Tesla's new 4680 batteries

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"Overwhelmingly our concern is, how do we keep the factories operating so we can pay people and not go bankrupt?" he said.

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