Tesla announces $12B production investment

NEW YORK, NY – AUGUST 27: Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City. The electric automaker saw its stock drop on Monday after its Chief Executive Elon Musk reversed his plans to make the Silicon Valley company private. Tesla shares lost 4% in early trading on Monday. (Photo by Spencer Platt/Getty Images)

Electric-vehicle manufacturer Tesla says it will invest up to $12 billion in new electric car and battery factories.

The two-year expenditure plan comes as Tesla needs to ramp up capacity for new products – not only in vehicle production but also in the manufacture of solar roofs.

Industry publication Electrek reports despite the large investment, Tesla still expects to remain marginally profitable.

Are you eyeing an electric vehicle for your next ride? What about a solar roof for your home or business? What are you waiting for before looking seriously at either product?

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