Tesla to exceed $9 billion capex target this year


Content Team
Image Credit: NewsBytes

Tesla announced on Monday that its capital expenditure for 2023 is set to surpass its previously projected range of $7 billion to $9 billion. This decision comes as the company accelerates production across its factories and prepares to introduce new models. In the final quarter of this year, Tesla is set to roll out its upgraded Model 3 compact sedan and the highly-anticipated "Blade Runner"-inspired Cybertruck. Factory retooling in the third quarter briefly impacted deliveries and earnings.