tech
Tesla reduces annual capital expenditure plan to $20 billion
Tesla reduces its annual capital expenditure plan to $20 billion after third-quarter spending trailed expectations.
Tesla Inc announced late Wednesday that annual capital expenditures will be around $20 billion. This follows a third-quarter outlay of $4.73 billion, which trailed the $7.95 billion average analyst estimate. CFO Vaibhav Taneja stated spending will grow for robotaxi fleets, solar products, and a semiconductor plant. Elon Musk noted that supply-chain and design issues mean Optimus robots may not be resolved until late 2027.
Latest updates
Tesla reduces annual capital expenditure plan to $20 billion
Tesla Inc announced a reduction in its annual capital expenditure plan to around $20 billion. The move follows a previous quarter where investments trailed market expectations. Analysts suggest the cut may delay Elon Musk's ambitions for robotaxis, humanoid robotics, and AI integration. The company reported these figures late Wednesday following its earnings release.