Tesla to spend $500 million on supercharger network expansion

Tesla (TSLA) CEO Elon Musk has big plans to expand the EV maker's Supercharger network by investing over $500 million into the project, according to a recent post on X. The irony lies in the fact that Tesla laid off a bulk of its Supercharger development team at the end of April.
Gartner Vice President and Team Manager of Automotives, Transportation, and Cross Manufacturing Mike Ramsey sits down with Catalysts to discuss Tesla's charging network strategy, calling the layoffs a "cost optimization effort as they try to get their operations in line"
"But, the investment in the network actually makes a lot of sense, and might be a real benefit to them in the long term as a new source of revenue," Ramsey tells Yahoo Finance.
Ramsey goes on to comment on Tesla's full self-driving capabilities in its vehicles; Tesla's Autopilot function is currently undergoing a probe by Department of Justice (DOJ) officials.
"What they're charging customers for is a partially automated system that is more like a convenience feature. It is not a self-driving vehicle, like something that Waymo is offering in the southeast United States and in San Francisco," Ramsey states. "So when Tesla talks about this service improving and rolling out, they are not really playing in the same field as many of the, I would say, fully autonomous robocab-type providers are playing. That said, their system keeps getting better and better and they can make money selling it because it's a nice feature and that people like to have, and... Tesla has promised that in August they're going to unveil their new robocab that can... essentially be a full self-driving vehicle. My expectation is that vehicle will not be the same thing that you and I can buy..."
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