Elon Musk says Tesla's Del Valle factory is a 'gigantic money oven'
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Tesla CEO Elon Musk said his new electric vehicle factory in east Travis County is "losing billions of dollars" due to supply chain issues.
Musk said the Del Valle plant was not meeting performance benchmarks, in part because Chinese battery suppliers were shut down amid a COVID-19 outbreak in nearly 30 cities.
Musk said the company's top priority was to "get Shanghai back on track" and pull more cars off production lines at both plants.
Tesla would likely lay off 10% of the company's employees this year to make up for missed growth projections.