Tesla plans to more than double capital spending to a record high of more than $20 billion this year - but little of it will go to its traditional business of selling electric vehicles to human drivers. "The bigger story," he said, "is the business model transition now underway" as Tesla focuses on autonomous driving. 'Necessary spending'Andrew Rocco, stock strategist at Zacks Investment Research, said he viewed the $20 billion as "necessary spending." The $20 billion is more than double the $8.5 billion in capital spending last year, and significantly above the prior record of $11.3 billion in 2024. Musk said Tesla was embarking on some of the spending projects not for fun, but rather "out of desperation".

Source: The Telegraph January 29, 2026 07:00 UTC