Source: New York Post
Tesla CEO Elon Musk said he expected the electric vehicle maker’s capital expenses would rise “substantially in the future” after it surprised investors on Wednesday with positive cash flow in the first quarter. “We’re going to be substantially increasing our investments in the future, so you should expect to see significant increase in capital expenditures,” Musk told analysts on a conference call. He said the spending was “well justified for a substantially increased future revenue stream,” noting big capex plans at top tech companies.
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