Tesla CEO Elon Musk to invest over $500 million on Supercharger network expansion

New Delhi: Tesla CEO Elon Musk on Friday said that the company will be investing more than $500 million in its Supercharger network to create thousands of new chargers in 2024.

"Tesla will spend well over $500 million expanding our Supercharger network to create thousands of new chargers this year," Musk wrote in a post on X.

He also said that this money only accounts for new sites and expansions, and not for operations costs, which are much higher.

"That’s just on new sites and expansions, not counting operations costs, which are much higher," the tech billionaire said.

This comes after Tesla emailed its customers in Australia to update them on Supercharging amidst growing concerns about service quality following layoffs.

In an email to Australian customers, Tesla underlined that the "network will continue to be expanded," and that all currently under-construction locations "will be completed and put into operation", according to eletric-vehicles.com.

Less than two weeks ago, the company laid off hundreds of employees in its charging team.

Meanwhile, Musk has invited billionaire investor Warren Buffett to come and invest in Tesla, which is facing tough times amid a global slowdown in EV sales.

Replying to an X user who posted that Berkshire Hathaway owner should sell all his shares in Apple and buy Tesla instead, the electric car company owner responded that it is an "obvious move" for him.

"He (Buffett) should take a position in Tesla. It's an obvious move," posted the X owner. (IANS)

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