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Tesla lowers spending target as investment falls short of expectations

Tesla lowered its capital expenditure target for this year from more than $25 billion to around $20 billion after last quarter's investment progress fell short of expectations, casting a shadow over Elon Musk's effort to transform the company into an AI and robotics firm. Tesla spent only $4.73 billion in the third quarter, while analysts had expected $7.95 billion on average.

Part of the event: Tesla lowers annual capital expenditure target to about $20 billion

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