<p><a href="https://www.deccanherald.com/tag/tesla" target="_blank">Tesla</a> Inc said on Tuesday it expects a jump in capital expenditure next year as the electric-vehicle maker increases production of a new battery cell and the Semi heavy duty truck.</p>.<p>The company, led by billionaire Elon Musk, forecast capital expenditure between $7 billion and $9 billion in 2024 and 2025. The midpoint of that forecast is $1 billion higher than the $6.00 billion to $8.00 billion range provided for this year.</p>.<p>Some of the spending will go toward a $3.6 billion expansion of its Nevada Gigafactory complex, where Tesla is building a factory to mass produce its long-delayed Semi truck and another 4680 cell plant that would be able to make enough batteries for 2 million light-duty vehicles annually.</p>.<p>The company is also boosting output at its facilities in Germany's Berlin and Austin, Texas, while struggling with high costs of raw materials such as lithium used in batteries.</p>.<p>Shares of the company were down 1.8% in premarket trading.</p>.<p>The automaker has been using its strong profit margins and production scale in a price war to help fend off rising competition and boost demand at a time the economy is slowing.</p>.<p>Its filing on Tuesday also showed that Tesla recorded an impairment loss of $204 million on the bitcoin it holds, while booking a gain of $64 million from converting the token into fiat currency.</p>.<p>Cryptocurrencies such as bitcoin were hammered last year as rising interest rates and the collapse of major industry players such as crypto exchange FTX shook investor confidence.</p>
<p><a href="https://www.deccanherald.com/tag/tesla" target="_blank">Tesla</a> Inc said on Tuesday it expects a jump in capital expenditure next year as the electric-vehicle maker increases production of a new battery cell and the Semi heavy duty truck.</p>.<p>The company, led by billionaire Elon Musk, forecast capital expenditure between $7 billion and $9 billion in 2024 and 2025. The midpoint of that forecast is $1 billion higher than the $6.00 billion to $8.00 billion range provided for this year.</p>.<p>Some of the spending will go toward a $3.6 billion expansion of its Nevada Gigafactory complex, where Tesla is building a factory to mass produce its long-delayed Semi truck and another 4680 cell plant that would be able to make enough batteries for 2 million light-duty vehicles annually.</p>.<p>The company is also boosting output at its facilities in Germany's Berlin and Austin, Texas, while struggling with high costs of raw materials such as lithium used in batteries.</p>.<p>Shares of the company were down 1.8% in premarket trading.</p>.<p>The automaker has been using its strong profit margins and production scale in a price war to help fend off rising competition and boost demand at a time the economy is slowing.</p>.<p>Its filing on Tuesday also showed that Tesla recorded an impairment loss of $204 million on the bitcoin it holds, while booking a gain of $64 million from converting the token into fiat currency.</p>.<p>Cryptocurrencies such as bitcoin were hammered last year as rising interest rates and the collapse of major industry players such as crypto exchange FTX shook investor confidence.</p>