(News Bulletin 247) – Tesla announced on Monday that it has raised its planned investment target this year to between seven and nine billion dollars.
According to the quarterly report of the manufacturer of electric vehicles, this range should also be maintained during the 2024 and 2025 financial years in order to finance the numerous “global projects” of the American group.
Tesla had so far committed to an investment target of between $6 billion and $8 billion for 2023, as well as for the next two years.
For comparison, its capital expenditure had risen to 7.16 billion dollars in 2022, after 6.48 billion dollars in 2021.
According to the Californian group, the ramping up of its investments should be used to finance the multitude of its current projects, which range from the design of new products such as the ‘robotaxi’ or the ‘Roadster’ to increasing the capacity of productions from its ‘Gigafactories’ whether in Shanghai, Texas or Berlin-Brandenburg.
The company also says it aspires to build new factories, expand its network of superchargers, dealerships and repair shops, and develop products related to artificial intelligence.
In the first three months of the year, its investments totaled $2.07 billion, compared to $1.77 billion in the first quarter of 2021.
Following this announcement, Tesla shares fell 1.1% on Monday morning at the start of trading on the New York Stock Exchange, against a gain of around 0.1% for the S&P 500.
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