Tesla (TSLA, Financial) has increased its capital expenditure forecast for 2024 to over $11 billion, up from a previous estimate of more than $10 billion, and surpassing the market expectation of $10.23 billion. The company also projects capital expenditures between $8 billion and $10 billion for both 2025 and 2026.
Additionally, Tesla confirmed $326 million in FSD (Full Self-Driving) revenue for the third quarter, primarily attributed to its electric pickup truck, the Cybertruck, and specific features like Smart Summon.