Senad Karaahmetovic
After the maker of electric vehicles ( EV ) increased its forecast for this year's's capital expenditures, Tesla( NASDAQTSLA ) shares are trading around 1.5 % lower in pre-market Monday.
According to a filing from Elon Musk, the company now anticipates its capex to be between$ 7 billion and$ 9 billion in 2023 and each of the following two years.
Tesla had previously anticipated a capex of$ 6 to$ 8 billion in 2023, followed by$ 7 to$ 9 billion over the following two years.
The speed of our capital expenditure may vary depending on general project priority, the speed at which we meet milestones, production adjustments to and among our several products, increased capital efficiencies, and the addition of new projects, according to a filing from Tesla." We are instantly ramping new products and manufacturing facilities on three continents. We are piloting the development of and manufacture new battery cell technologies, investing in autonomy and other artificial intelligence enabled products."
The company added that it anticipates" increasing levels of wealth expenditures during particular periods depending on the specific speed of our capital-intensive projects, rising materials prices, and increasing supply chain and labor expenses resulting from changes in the COVID-19 pandemic's's labor availability and trade conditions."
Now, Tesla stated that it anticipates continuing to be self-funded" as long as economic factors support ongoing styles in our sales."
Tesla stock declines in response to increased 2023 budget estimates
