Tesla Inc raised its capital expenditure forecast for 2023 on Monday as the automaker ramps up output at its factories to take advantage of the rising interest in electric vehicles.
The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmannraised its capital expenditure forecast for 2023 on Monday as the automaker ramps up output at its factories to take advantage of the rising interest in electric vehicles.that it expects to spend between $7 billion and $9 billion this year, higher than its previous outlook of $6 billion to $8 billion.
The world's most valuable automaker has been raising its production aggressively as it prioritises sales growth ahead of profit in a weak economy and works towards CEO Musk's bold goal of selling 20 million electric vehicles in 2030.
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