Tesla: capex increases by more than expected
(CercleFinance.com) - Tesla expects to increase its capital expenditure to over $9bn this year, due to its numerous projects that are in development stages, the electric car maker announced on Monday.
The group explains that the expansion of its infrastructure and current inflationary pressures will lead it to exceed its initial budget, which called for investments of between $6bn and $8bn in 2023.
In comparison, its capex reached $7.2bn in 2022, after $6.5bn in 2021.
This overrun comes as Tesla prepares for large-scale production of its Cybertruck pickup at its Texas gigafactory and its Tesla Semi truck in Nevada.
In a financial notice, however, the Group says that its capex is expected to fall, as planned, within a range of $7bn to $9bn in 2024, and again in 2025.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The group explains that the expansion of its infrastructure and current inflationary pressures will lead it to exceed its initial budget, which called for investments of between $6bn and $8bn in 2023.
In comparison, its capex reached $7.2bn in 2022, after $6.5bn in 2021.
This overrun comes as Tesla prepares for large-scale production of its Cybertruck pickup at its Texas gigafactory and its Tesla Semi truck in Nevada.
In a financial notice, however, the Group says that its capex is expected to fall, as planned, within a range of $7bn to $9bn in 2024, and again in 2025.
Copyright (c) 2023 CercleFinance.com. All rights reserved.