After layoffs, Musk says Tesla to spend $500 million on charging network

A Tesla car is being charged at a Tesla electric vehicle charging station on a car park of the A10 shopping center in Wildau near Berlin, Germany, March 20, 2024. REUTERS/Annegret Hilse/File Photo

(Reuters) -Tesla will spend more than $500 million this year to expand its fast-charging network, CEO Elon Musk said on Friday, days after abruptly laying off employees who were running the business.

"Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year," Musk said in a post on his social media platform X.