Tesla to more than double spending as focus shifts to robots and autonomy
Tesla says it will raise capital spending to a record level this year as it pivots toward fully autonomous vehicles and humanoid robots.
Tesla plans to more than double its capital spending this year, pushing investment to a record high of more than 20 billion dollars.
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Elon Musk’s company says the move reflects a major shift in priorities, with funding increasingly directed toward the development of fully autonomous vehicles and its longer-term ambitions in humanoid robotics.
The increased spending marks one of Tesla’s most aggressive investment plans to date, as it looks beyond its traditional electric car business and toward new technologies that could define its future growth.
The company has been placing greater emphasis on self-driving systems and robotics as central pillars of its strategy.
As part of this transition, Tesla is also ending production of its Model X SUV and Model S sedans, signalling a change in focus away from some of its older vehicle lines.
The decision underlines how the company is reshaping its operations while preparing for what it sees as the next phase of innovation in transport and automation.