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Tesla raises 2023 spending forecast as it races to ramp up output
Tesla Inc. raised its capital expenditure forecast for 2023 on Monday as the automaker ramps up output at its factories to take advantage of the rising interest in electric vehicles. The company, led by Elon Musk, said in a filing that it expects to spend between $7 billion and $9 billion this year, higher than its previous outlook of $6 billion to $8 billion. It maintained the spending outlook for the next two years at $7 billion to $9 billion. Tesla's shares fell 3.3% in morning trade (3.22% now and leveled off). The world's most valuable automaker has been raising its production aggressively as it prioritizes sales growth ahead of profit in a weak economy and works towards CEO Musk's bold goal of selling 20 million electric vehicles in 2030. Achieving that goal will make Tesla twice the size of any automaker in history, accounting for roughly 20% of the global vehicle market.
The company in January earmarked $3.6 billion to expand its Nevada gigafactory complex, where Tesla will mass produce its long-delayed Semi truck and build a plant for the 4680 cell that will be able to make enough batteries for 2 million light-duty vehicles annually. The company is also ramping up output at its factories in Berlin and Austin, and plans to open a gigafactory in Mexico as the EV behemoth pushes to expand its global output.
Reuters reported earlier in the day that Tesla has begun producing in Shanghai a version of the Model Y to be sold in Canada this year, the first time it will ship cars to North America from China.
https://www.reuters.com/business/autos-transportation/tesla-raises-2023-spending-forecast-it-races-ramp-up-output-2023-04-24/
from Friday 0421
Tesla increases prices of top models after stock slump
https://thehill.com/homenews/3962633-tesla-increases-prices-of-top-models-after-stock-slump/
6 moth on TSLA
https://finance.yahoo.com/quote/TSLA
All the big Mfgs are gonna eat his lunch soon: Porsche, Mercedes, VW, Toyota all the the capacity to make better cars faster-whether they do is a different question as Toyota certainly has been giving signals it's not going to rely on EVs going forward and GM/Ford makes all it's munee on over-priced gas/diesel trucks (that they still can't sell)
>REITS
Meanwhile First Republic Bank spikes
https://finance.yahoo.com/quote/FRC
>>18735497 pb Economic Schedule for Week of April 23rd 2023
>First Republic bank does earnings on Monday after the close see below-bailed out by the 'cash' from the big 6 and all the depositors rushing to put munee into the 'safety' of those same zombie banks and the housing data train wreck continues as well
>>18744957 lb
PlaneFag CONUS Update
Korean AF KFA001 747 on final approach turn at JBA
Saudi Arabia AF RSF1454 A330 crossed the Atlantic and on the ramp
SAM794 G5 west from JBA
SHADO18 E-6B Mercury headed east off shore from Pax River and looks like it's settin' up for some trackin-mebby drop it's VLF antenna to talk to some subs
PAT746 C-12U Huron west from Dulles Int'l Airport w/ PAT325 C-12V Huron SW from Davison Army Airfield
PAT008 Super King Air heading to Grand Forks from Offutt AFB and PAT319 C-12V Huron doing roundied at Fargo-Hector Int'l Airport donchaknow
BACON6 E-11A GLEX east from MCAS Miramar
00000000 B-52 out of Barksdale AFB NW just E of OKC at 3.8k ft
Mexi Navy ANX1201 G5 NE from Mex City Int'l and FAM3911 CL-60 went to Acapulco from Mex City Int'l
MAMIE11 E-4B Nightwatch did a refueling exercise and now looks like heading back to Offutt now
>>18745259 Tesla raises 2023 spending forecast as it races to ramp up output
moar CapEx to sell less cars
REPAY01 C-17 went north to Burlington, VT and back at Dover AFB