Tesla Commits Over $500 mn to Expand Supercharger Network

By Editor


Elon Musk, the CEO of Tesla, announced on Friday that the company is set to invest more than $500 million in its Supercharger network to establish thousands of new charging stations in 2024.

In a post on X, Musk stated, “Tesla will spend well over $500 million expanding our Supercharger network to create thousands of new chargers this year.”

He clarified that this substantial investment is solely allocated for new sites and expansions, excluding operational costs, which he noted are considerably higher.

The announcement follows Tesla’s recent communication with its customers in Australia regarding updates to the Supercharging infrastructure amid mounting concerns about service quality following layoffs.

According to eletric-vehicles.com, Tesla assured Australian customers via email that the Supercharger network would continue to undergo expansion. Additionally, all locations currently under construction are slated to be completed and operational.

Just weeks prior to this investment declaration, Tesla initiated significant layoffs within its charging team, affecting hundreds of employees.

Meanwhile, amidst challenges stemming from a global slowdown in electric vehicle (EV) sales, Musk extended an invitation to billionaire investor Warren Buffett to consider investing in Tesla.

Responding to a user’s suggestion on X that Buffett should divest from Apple and invest in Tesla instead, Musk characterized it as an “obvious move” for the Berkshire Hathaway owner.

“He (Buffett) should take a position in Tesla. It’s an obvious move,” stated the X owner.

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