The Strategist

Tesla plans over $10B in capital expenditures for 2024

01/30/2024 - 06:15

The American electric vehicle manufacturer Tesla Inc. stated in its annual report that its capital expenditures would surpass $10 billion in 2024 and fall within the range of $8 billion to $10 billion over the following two years.

Niall Kennedy
Niall Kennedy
The amount increased from $7.16 billion in 2022 to $8.9 billion in 2023.

Tesla stated in a filing submitted to the U.S. Securities and Exchange Commission (SEC), "We are simultaneously ramping up new products, building or expanding manufacturing facilities on three continents, refining new battery technologies, expanding our charging station network, and investing in autonomous and other AI solutions."

Sales growth is expected to sustain free cash flow, which the business expects to be sufficient to pay the investment.

"We expect our ability to self-finance to continue as long as macroeconomic factors support the current trend in sales," reads the report.