Elon Musk says Tesla will spend over $500 million on charging network, days after layoffs

Elon Musk, the CEO of Tesla, announced on Friday that the company intends to invest more than $500 million this year to install new superchargers. This announcement follows closely after reports emerged regarding layoffs. In a post on X, Musk wrote, "Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year."