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Tesla is investing heavily in artificial intelligence, autonomous driving, and robotics, with a projected capital expenditure (capex) of $9 billion for 2023. Of this, $6.1 billion has already been spent in the first three quarters, suggesting $2.8 billion for the fourth quarter. The company anticipates lower capex in 2025 but expects a significant increase in 2026 as it prepares for growth.
Tesla plans to scale AI initiatives, ramp up production of its Optimus robot, and expand vehicle and energy capacity. On the automotive front, it aims for an annual output capacity of 3 million units within two years. In Q3 2025, Tesla recorded a free cash flow of around $4 billion, a 46% increase year-over-year, with $41 billion in cash, equivalents, and investments.
Major competitors General Motors and Ford also plan significant investments: GM expects to spend $10-$11 billion and Ford around $9 billion in 2025 on electric and autonomous technologies.
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