Tesla’s spending has again fallen short of Wall Street expectations, clouding Elon Musk’s plan to transform the maker of electric vehicles into an artificial intelligence and robotics company.
Capital expenditures totaled $4.73 billion in the third quarter, Tesla said Wednesday in a statement. Analysts had expected $7.95 billion on average according to estimates.
On the company’s call with analysts, Chief Financial Officer Vaibhav Taneja said Tesla was cutting its 2026 capital expenditure target to $20 billion, down from more than $25 billion it had previously projected. Tesla invested $8.3 billion over the first six months of the year.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.