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.Andrew Rocco, stock strategist at Zacks Investment Research, said he viewed the $20 ‍billion as "necessary spending. "Musk said Tesla was embarking on some of the spending projects not for fun, but rather "out of desperation". "Can other people, please, for the love of God, in the name of all that is holy, can others please build this stuff?" Musk said, referring to spending on cathode and lithium refining.

Source: Economic Times January 30, 2026 06:54 UTC