Tesla reported today to the Securities and Exchange Commission about increasing the company’s spending plan by about a billion dollars. It now expects to spend between 6 and 8 billion dollars this year and thus one of the next two years, up from the previous forecast of spending 5 to 7 billion dollars. The purpose of the increased spending is to increase production in the new factories in Texas and Berlin.
Last month, Musk said that these factories are losing billions of dollars. These factories have so far had difficulty increasing production significantly due to a shortage of batteries and parts made in China.
In addition, the company reports today on a request for information regarding the tweets of the colorful CEO Elon Musk. On behalf of the SEC. Following a tweet in 2018, Musk agreed that his tweets would be pre-approved by the company’s lawyers. The company said it would cooperate with the authorities in this matter “.
The company also announced, following the information already published in the reports published last week, that it converted 75% of its bitcoin holdings into dollars and generated a profit of $64 million compared to the purchase price, but recorded “adjustments” (ie a loss) of $170 million in the first 6 months of the year. The company now values its bitcoin holdings at $222 million.
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