text: Energy Generation and Storage Demand, Production and Deployment 
  
  The long-term success of this business is dependent upon incremental volume growth. We continue to increase the 
  
  production and capabilities of our energy storage products to meet high levels of demand, including the introduction of 
  Powerwall 3 in 2024, the construction of a new Megafactory in Shanghai and the ongoing ramp at our Megafactory in Lathrop, 
  California. For Megapack, energy storage deployments can vary meaningfully quarter to quarter depending on the timing of 
  specific project milestones and logistics. As these product lines grow, we will have to maintain adequate battery cell supply for 
  our energy storage products. At the same time, changes in government and economic incentives or tariffs may also impact our 
  sales, cost structure and the competitive landscape. 
  
  Cash Flow and Capital Expenditure Trends 
  
  Our capital expenditures are typically difficult to project beyond the short-term given the number and breadth of our 
  
  core projects at any given time, and may further be impacted by uncertainties in future global market conditions. We are 
  simultaneously developing and ramping new products, building or ramping manufacturing facilities on three continents, 
  piloting the development and manufacture of new battery cell technologies, expanding our Supercharger network and investing 
  in autonomy and other artificial intelligence enabled training and products, and the pace of our capital spend may vary 
  depending on overall priority among projects, the pace at which we meet milestones, production adjustments to and among our 
  various products, increased capital efficiencies and the addition of new projects. Owing and subject to the foregoing as well as 
  the pipeline of announced projects under development, all other continuing infrastructure growth and varying levels of 
  inflation, we currently expect our capital expenditures to exceed $11.00 billion in 2024 and be between $8.00 to $10.00 billion 
  in each of the following two fiscal years. 