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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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A big announcement from Austonia

Howdy, and happy holidays.

I have some big news for you.

Austonia is now part of 6AM City, a fast-growing network of hyper-local newsletters across the country.

I’m proud to be telling you this, because 6AM City’s mission is very much like Austonia’s — a daily morning update on events, things-to-do and news, with an underlying mission of community building in the cities they serve.

If you’re not already subscribed, 6AM City’s Austin newsletter is called ATXtoday. One of its city editors is Laura Figi, who you’ll remember for her previous great work on Austonia’s newsletter.

I’ve been reading ATXtoday every day since it launched last year.

Starting this week, you’ll receive ATXtoday every morning and I’m confident it will become part of your daily wake up routine. Be sure to add hello@theatxtoday.com to your contact list (how to do that here).

Meantime let me thank you for your readership and support of Austonia, and convey my wishes for a great holiday season for you and those close to you.


Thank you,

Mark Dewey

Austonia CEO

Tito's releases (not so?) ugly sweater line for the holidays, profits to charity

Tito's Handmade Vodka

Show your love for Tito's and for the community this year with a wide selection of not that ugly, uglyish, ugly, uglier, and ugliest holiday sweaters.

There's lots choose from, and plenty of accessories like scarves and socks, plus gear for your dog, too.

All of the items can be purchased online or at the Love, Tito’s Retail Store in Austin, TX. 100% of all net proceeds from online or in-store purchases go to one of the nonprofits we’ve teamed up with.

Click here to see the entire collection in the Tito's store.