Tesla Plans $20 Billion of Investment, Deepens Its Focus on AI

Tesla Inc. is streamlining its vehicle portfolio while mapping out $20 billion of investment this year as it pivots to robotics and autonomous driving.

The massive planned capital expenditure, announced during the company’s conference call, underscores Tesla’s ambitions to refocus its business. The EV maker is increasingly emphasizing the potential of artificial intelligence, driverless technology and humanoid robots to drive future growth as its traditional business of selling automobiles struggles.

This year, the company is looking to scale up production while improving some factories, creating AI infrastructure and expanding output of Optimus humanoid robots and Robotaxi vehicles that operate without ...