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Recently opened Giga Texas is a gigantic money furnace, says Elon Musk

(Tesla)

A few weeks after its opening, CEO Elon Musk expressed doubt about whether the Tesla gigafactory in southeast Travis County is lucrative so far.


In an interview with Tesla Owners Silicon Valley, Musk said, “Both Berlin and Austin factories are gigantic money furnaces right now. It's really like a giant roaring sound, which is the sound of money on fire."

The comments come just a few months after the grand opening of Giga Texas in April, where Musk threw a party to celebrate the start of production at the more than $1.1 billion site.

At the time, Musk shared bold goals for increasing scale. But now, he says electric car battery shortages and supply chain issues are costing the automaker billions of dollars.

The interview with the northern California Tesla fans was released as the third installment in a YouTube video series from a late May interview. During the conversation, Musk said Giga Texas had manufactured only a tiny number of cars.

The challenges included the production of the 4680 battery, as well as port delays in China that have affected shipments.

Musk has previously expressed concern over supply chain woes and inflation pressures. During a call about the first quarter of this year, he noted those factors and described a long waitlist extending into next year.

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When Mach .925 is not enough: Elon Musk to upgrade his Gulfstream private jet

(Gulfstream)

Elon Musk has placed an order for a new, top-of-the-line private jet: a Gulfstream G700, Austonia has learned. Delivery is expected in early 2023.

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Valencia Hotel Group Presents Live Music & Longnecks - All Summer Long

(Valencia Hotel Group)

Live music and beer? Say no more. With a location in Austin, and others throughout Texas, the court hotels by the Valencia Hotel Group have a new offering for weekend stays: Live Music & Longnecks.

Enjoy live music all weekend long and check out the hotels’ state-of-the-art amenities between sets. Make a splash in the pool, enjoy outdoor fire pits, or challenge your friends in a yard game while enjoying a weekend full of live music! Did we mention the package includes deluxe accommodations and a bucket of beer? Oh, and if you needed more convincing, this pet-friendly hotel means the whole family can join in on the fun.

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