The logo of Tesla is seen in Taipei, Taiwan August 11, 2017.
The company's spending is, however, expected to return to the $7 billion and $9 billion range in the next two years, a regulatory filing showed.
He warned that rising interest rates could impact demand at Tesla, on top of a margin-sapping price war this year to maintain sales.
Tesla shareholders -- including Gary Black, managing partner of The Future Fund, which owns Tesla stock -- have been calling for the automaker to advertise, saying that price cuts have only had a limited impact on demand.
Reporting by Aditya Soni and Juby Babu; Editing by Maju Samuel and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
Persons:
Tyrone Siu, Tesla, Elon Musk, Musk, Gary Black, Aditya Soni, Juby Babu, Maju Samuel, Savio D'Souza
Organizations:
Tesla, REUTERS, Fund, Thomson
Locations:
Taipei, Taiwan, Mexico