Tesla CEO, Elon Musk has recently announced a significant investment of over $500 million into the expansion of the company’s Supercharger network. Musk revealed this ambitious plan on Friday, is an attempt to bolster its EV charging infrastructure as highlighted in a recent report by a news agency.
Elon Musk took to the microblogging website X (formerly Twitter) to share that Tesla will be investing over $500 million to set up thousands of new chargers this year to strengthen its Supercharger network. His post on X stated, “Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year. That’s just on new sites and expansions, not counting operations costs, which are much higher”.
The report states that this substantial investment is earmarked for the creation of thousands of new chargers throughout 2024, marking a significant step forward in Tesla’s mission to facilitate convenient and efficient electric vehicle (EV) charging. Musk emphasized that this substantial allocation of funds will be solely directed towards the establishment of new sites and expansions, excluding operational expenses, which he noted are considerably higher.
This development comes in days after the news of massive layoffs from Tesla. However, despite all the ongoing issues Tesla’s commitment to fortifying its charging network is without doubt quite strong and even amidst the ongoing global EV slowdown Musk is not battling an eyelid and is taking the challenges head on.
The Supercharger network of Tesla is quite vast and it seems the company is strengthening this network even further to counter the slowdown in EV demand. The company is also gearing up to unveil its autonomous Robotaxi on August 8th 2024 and the company would be banking big on its success to shift the momentum in Tesla’s favour.
(With inputs from IANS)
