Tesla Increases Budget for the Next Two Years, Investing More into New Factories

Tesla has changed its investment plan, according to a filing with the US Securities and Exchange Commission (SEC). According to this, Tesla wants to invest between six and eight billion dollars annually until 2024. In addition, the Superchargers in the USA are to be opened to third-party brands.

But first, the investment plan: According to the document filed with the SEC, Tesla expects to invest one billion dollars more than before in this year and the next two years – instead of five to seven billion dollars, six to eight billion dollars have been budgeted. The additional money flows into the two new plants in Austin and Grünheide to scale production.

Tesla explains the range of two billion dollars with the unclear situation: “Given the number, breadth, and depth of our own core projects,” it is difficult to predict the capital flows for this. Specifically, new products such as an updated Megapack generation, electric car production on three continents, and entry into battery production are mentioned.

Increasing Tesla Factories

As recently as June, Elon Musk had called the two factories “gigantic money-burning furnaces” that are “losing billions of dollars.” Nevertheless, the company once again made a profit in the billions in Q2. The background to the faltering production ramp-up is, for example, the shortage of 4680 batteries for the Giga Texas, the logistics problems in Chinese ports, and, at least in Grünheide, probably also the lack of skilled workers.

At one point, Tesla has reportedly eased the supply chain problems for Giga Texas somewhat. According to the report, the factory in Austin is supplied by several suppliers from Mexico by truck. In order to simplify transport, Tesla has been given its own lane at the Colombia Solidarity Site border. It crosses between the Mexican state of Nuevo Léon and Texas, according to Bloomberg. There, trucks with supplier parts, but not Tesla cars, can drive past the rest of the border crossers. It is not known what Tesla has done in return.

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