Tesla to boost spending as plant expansions gather pace

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Reuters UK

(Reuters) – Tesla Inc said on Tuesday it expects a jump in capital expenditure next year as the electric-vehicle maker increases production of a new battery cell and the Semi heavy duty truck. The company, led by billionaire Elon Musk, forecast capital expenditure between $7 billion and $9 billion in 2024 and 2025. The midpoint of that forecast is $1 billion higher than the $6.00 billion to $8.00 billion range provided for this year. Some of the spending will go toward a $3.6 billion expansion of its Nevada Gigafactory complex, where Tesla is building a factory to mass produce its long-delayed…

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