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.
Electric vehicle maker Tesla plans to invest $6bn on production plants and equipment over the next two years, according to a regulatory filing. Tesla expects to spend just under $2.5bn this year, and between $2.5bn and $3bn per year in 2019 and 2020. 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.