Tesla to exceed $9 billion capex target this year

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Nevertheless, a recent regulatory filing has indicated that the electric car manufacturer intends to bring its capital expenditure back within the $7 billion to $9 billion range in the next two years.

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CEO Elon Musk recently revealed that the company is currently deliberating its plans for a new factory in Mexico.

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Musk expressed concern over the potential impact of rising interest rates on Tesla's demand, given that the company has engaged in a margin-sapping price war this year.

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Tesla has initiated small-scale advertising efforts, with plans to expand as they identify the most effective strategies, according to a post by Musk on the X social media platform.

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This signifies a shift for Tesla, which previously relied on Musk's celebrity status and customer excitement for marketing.

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Shareholders, including Gary Black of The Future Fund, have advocated for advertising as price reductions have had a limited effect on demand.

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