Tesla has lowered its 2026 capital spending forecast. In its Q3 10-Q, the company now says it expects capital expenditures “to be in excess of $20 billion in 2026,” down from the “more than $25 billion” it had guided since April.
The change was in the 10-Q Tesla filed Wednesday, not in the shareholder letter it released the same day. And it lands in a quarter where Tesla reported $1.53 billion of positive free cash flow, a number that depends a lot on timing.
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