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Tesla has lowered its annual capital expenditure target to $20 billion, with Musk stating a 2030 goal of approximately 5 million vehicles produced annually.
Tesla announced during its Q3 earnings call that it is lowering its annual capital expenditure target from over $25 billion to $20 billion, a reduction of approximately 20%. CEO Elon Musk stated that Tesla aims to produce approximately 5 million vehicles annually by around 2030 and emphasized that FSD (Full Self-Driving) is currently the core demand driver, with demand growth significantly outpacing production capacity.
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