Event
Tesla lowers annual capital expenditure target to about $20 billion
1 reports · 1 sources
After reporting its financial results, Tesla said that because last quarter's investment progress lagged expectations, it is lowering its 2026 capital expenditure target from the more than $25 billion it raised earlier this year to about $20 billion. In the third quarter Tesla spent only $4.73 billion, while the analyst average expectation was $7.95 billion. This reversal casts a shadow over Musk's effort to transform Tesla into an artificial intelligence and robotics company.
Report timeline
- 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.
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