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Tesla Expects to Spend as Much as $6B in Next Two Years

Money to be used for product development, China plant.

by Michael Strong on Nov.02, 2018

Tesla's move to build a new plan in China will include up to $3 billion to for a new plant and other expenditures.

Already plagued by rumors of needing to raise additional money, Tesla officials expect to spend between $5 billion and $6 billion in the next two years to expand production.

The company, which revealed the plan in its quarter filing with the Securities and Exchange Commission, is making big moves with the money.

The Last Word!

Tesla will spend between $2.5 billion and $3 billion in capital expenditures readying the business for increased Model 3 production, development on its next vehicle, the Model Y, the second-generation Roadster and other projects, according to the filing. (more…)

Tesla Set to Move on New Plant in Shanghai, Announcing Deal Even as it Raises Chinese Prices

Battery-carmaker is 1st from U.S. to raise prices as trade war escalates.

by Paul A. Eisenstein on Jul.10, 2018

Tesla's new Shanghai plant is expected to be at least as large as its factory in Fremont, California - and include battery production, as well.

(This story has been updated with new information.)

Pres. Donald Trump’s trade war has claimed its first automotive victim, Tesla announcing it will raise prices on some models on sale in China by $20,000 or more to reflect the impact of new tariffs on American-made vehicles.

At the same time, CEO Elon Musk is on his way to China, numerous reports indicating Tesla is set to lock down a deal with authorities in Shanghai to set up the company’s first foreign assembly plant. Musk confirmed construction will begin in about three months and the facility will produce 500,000 vehicles annually once it is ramped up to full production.

Breaking News!

Despite the news about tariffs – which could depress sales in the world’s largest battery-car market in the near-term – investors appear to be buoyed by reports that Tesla will move forward on a Chinese assembly plant. Musk has also indicated that the automaker is working on plans to set up a second foreign plant somewhere in Europe.

(more…)