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Grnheide “Money Oven”: Tesla Stocks Turning Positive: Tesla Plants in Austin and Grünheide Are Burning Billions | news

Musk described the factories as “giant money incinerators” in a video interview released Wednesday. In last month’s conversation with the Tesla owners fan club of Silicon Valley, Musk described the past two years as an “absolute nightmare” in light of persistent supply chain problems in the auto industry. The Tesla boss also warned: “We’re not done yet.”

According to Musk, Tesla intends to keep the company running so that employees continue to get paid and the group doesn’t go bankrupt. While high start-up costs and losses are relatively normal for new plants like Grünheide and Austin in the start-up phase when starting production, Tesla also faced challenges with its Shanghai plant. “The Covid closures in China have been very, very difficult to say the least,” Musk said. The interview was conducted on May 31, but the part with the most recent statements has only now been broadcast on the Internet.

Musk had recently warned repeatedly of an economic downturn and announced job cuts at Tesla. The electric car maker will cut 3 to 3.5 percent of its jobs in the coming months, Musk clarified on Tuesday after mixed reports. About every tenth jobs among employees will be lost, while the number of workers will increase in the long run. At the beginning of the year, Tesla had nearly 100,000 employees. Tesla created employee jobs too quickly, Musk said via video link at the Qatar Economic Forum conference.

Steinbach, Brandenburg Minister of Economy: Tesla’s losses are not surprising

For the Minister of Economy of Brandenburg Jörg Steinbach, the statements of the Tesla boss Elon Musk on the losses of the electric car factories in Grünheide near Berlin and Texas is not surprising. “Rising prices and supply chain problems, but also higher spending in the energy sector must inevitably lead to higher costs for every company,” the SPD politician told the German news agency on Thursday. “We live in tense times”. In this regard, Musk’s claim comes as no surprise.

The billionaire described the places as “giant money incinerators” in a video interview released Wednesday. In an interview with a Tesla fan club, he called the past two years an “absolute nightmare” when it comes to supply chain problems. Tesla boss warned: “We are not done yet.”

Now it’s about keeping the company running so that employees keep getting paid and the group doesn’t go bankrupt. While start-up costs and high losses are relatively normal for new plants like Grünheide and Austin in Texas in the start-up phase, Tesla also faced challenges with its Shanghai plant. “The Covid closures in China have been very, very difficult to say the least,” Musk said.

The interview was conducted on May 31, but the part with the most recent statements has only now been broadcast on the Internet.

Musk had repeatedly warned of an economic downturn and announced job cuts at Tesla. The electric car maker will cut 3 to 3.5 percent of its jobs in the coming months, Musk clarified on Tuesday after mixed reports. Approximately every tenth job among employees should be eliminated. The number of workers, on the other hand, will increase in the long run. At the beginning of the year, Tesla had nearly 100,000 employees.

In Grünheide, Tesla wants about 500,000 vehicles off the assembly line per year and employs about 12,000 people in an early expansion phase. Production only gradually increased.

Tesla cars with cameras on police premises? – Irritations from the ban

An initial ban on Tesla cars due to their numerous cameras on some Berlin police properties caused a stir and irritation.

On Wednesday, the police sent an internal circular from the LKA security department ordering a “ban” for the areas of the police headquarters and the State Criminal Police Office (LKA). Police feared a security and privacy issue because the Tesla vehicle’s cameras constantly captured their surroundings. This was reported by the newspaper “BZ” and the police confirmed the letter.

Police rowed on Thursday – press spokesperson Thilo Cablitz explained that a settlement is currently being planned for all properties involving cars with cameras and computer systems. The circular with the title “Prohibition” was sent only “in advance” and is not yet in force, but “only serves to raise awareness”. There is currently no general entry ban for some vehicles.

However, there is still a general ban on audio and video recordings in all police security areas. Everyone is responsible for compliance, which also applies to car cameras. This could register police officers, police vehicles, police premises security or other people on the premises.

The videos are “permanently stored” on the servers at Tesla’s European headquarters in the Netherlands, police said. It has not been made clear how film recordings are processed. Tesla decides whether the data could be released.

According to the circular, the police noticed the problem in January 2022, due to a report on the ZDF television station. In August 2021, “Frontal” magazine presented in a longer article what Tesla cars film and archive and what data can be released.

As a result, the Berlin prosecutor’s office had received films from Tesla showing incidents. But he also got footage of a highway trip that didn’t cause an accident, but the footage was still stored on the servers and could be recalled.

Modern cars have multiple cameras to help with parking, for example. At Tesla, eight cameras provide 360-degree surveillance of the car’s surroundings. The systems are used for driver assistance and semi-autonomous driving. But they also work as so-called dash cams, which they constantly film in order to understand what happened, for example, after an accident.

Additionally, Tesla has been offering a “Sentinel Mode” since 2019 that owners must consciously activate for it to be active. Even with a car parked, the cameras constantly capture the surroundings and record activities as soon as a proximity alarm is triggered. The mode is intended to protect against vandalism and theft, or at least to discourage potential perpetrators.

Privacy advocates are of the opinion that “guard mode” violates European law. In October 2020, for example, the “Netzwerk Datenschutzexpertise” came to the conclusion in a report that Tesla vehicles “should not be allowed on European roads”. Tesla’s responsible authority in the Netherlands has not yet taken action against “guard mode”.

Other states are also addressing the problem. From Brandenburg it was said that the subject was known. “The tests for the future, and moreover independent from the type of vehicle, the management of these systems installed in the vehicles are underway at the police headquarters”.

The Berlin police union (GdP) stressed: “It is good that such an incorrect letter is corrected immediately. Today’s technical possibilities are far-reaching and make it necessary to constantly optimize security measures on buildings.”

In US trading on the NASDAQ, Tesla shares initially lose, but then turn slightly positive. It temporarily increased by 0.16% to $ 709.42.

SAN FRANCISCO / BERLIN (dpa-AFX)

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