‘Gigantic Money Furnaces:’ Elon Musk says Tesla’s Recent Factories Are Losing Billions (Video)

Tesla CEO Elon Musk recently described the company’s Berlin and Austin factories as “gigantic money furnaces” in an interview with Tesla Owners of Silicon Valley, an official Tesla-recognized club, in Austin, Texas. Musk quipped, “There should be like a giant roaring sound, which is the sound of money on fire.”

Reuters reports that speaking to the Tesla Owners of Silicon Valley, an official Tesla-recognized club, in Austin, Texas, Tesla CEO Elon Musk described the company’s new factories in Berlin and Austin as “gigantic money furnaces.”

Tesla moves its headquarters to Austin in December and recently quipped that if you were to visit the facilities now: “There should be like a giant roaring sound, which is the sound of money on fire.”

Both the Berlin and Austin factories opened earlier this year, and during the launch of the Austin Gigafactory in April, Musk heralded the facility as “a new phase of Tesla’s future,” as the company planned to produce its Model Y and Cybertruck vehicles at the facility.

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