Electric vehicle maker Tesla plans to invest $6bn on production plants and equipment over the next two years, according to a regulatory filing. It is also planning a crossover sport utility vehicle called the Model Y, and a second-generation version of the Tesla Roadster that CEO Elon Musk has said will be quicker and faster than any other car on the road. The investment is part of Tesla’s plan for ramping up its battery production, which has been hit by falling demand from electric cars in recent years. The US-based company also wants to produce 3,000 of its Model 3 sedans per week at a new factory in Shanghai. However, the filing cautioned that the company's production targets were "subject to a number of uncertainties", including supply chain constraints, regulatory approval and the speed at which it can bring the China plant online.
Electric vehicle maker Tesla plans to invest $6bn on production plants and equipment over the next two years, according to a regulatory filing. The investment is part of Tesla’s plan for ramping up its battery production, which has been hit by falling demand from electric cars in recent years. The US-based company also wants to produce 3,000 of its Model 3 sedans per week at a new factory in Shanghai. However, the filing cautioned that the company's production targets were "subject to a number of uncertainties", including supply chain constraints, regulatory approval and the speed at which it can bring the China plant online.