Tesla achieved full-year 2020 free cash flow of nearly $2.8 billion after spending more than $3 billion on new factories and other expenditures.

Judge as of 2021-01-27 against Tesla's reported full-year 2020 figures, using any formal restatement if one exists. True: Tesla's reported FY2020 free cash flow is 'nearly $2.8 billion', between about $2.6bn and $2.8bn, and its FY2020 capital expenditures exceed $3bn. Mostly true: one figure misses slightly, e.g. free cash flow between $2.5bn and $2.6bn or just over $2.8bn, or capex between $2.9bn and $3bn, with the other figure correct. Mixed: one figure is correct and the other is clearly off. Mostly false: both figures miss by roughly 10–25%. False: free cash flow is far from $2.8bn (e.g. negative or under $2bn) and capex is far below $3bn.

Set before the research began.

1. E1 Q4 and FY2020 Update Tesla, Inc. (Investor Relations) · 27 January 2021 Own record

   “Operating cash flow less capex (free cash flow) of $2.8B in 2020”

2. E2 tsla-10k_20201231.htm U.S. Securities and Exchange Commission (Tesla, Inc. Form 10-K for fiscal year ended December 31, 2020) · 29 January 2021 Own record

   “we currently expect our capital expenditures to be $4.50 to $6.00 billion in 2021 and in each of the next two fiscal years.”

3. E3 Q4 and FY2020 Update Tesla, Inc. Own record

   “Operating cash flow less capex (free cash flow) of $2.8B in 2020”

4. E4 Tesla releases Q4 FY 2020 $TSLA results: Record deliveries herald path to record profits Teslarati · 27 January 2021

   “Tesla’s operating cash flow less CAPEX stands at $2.8 billion in 2020.”

Tesla's Q4/FY2020 Update [E1, E3] and Teslarati's independent report [E4] both put Tesla's 2020 free cash flow (operating cash flow less capex) at $2.8B. That matches the claim of "nearly $2.8 billion". However, none of the evidence states Tesla's actual FY2020 capital expenditures. The 10-K excerpt [E2] gives only the expected capex for 2021 onward. The criteria require both figures, so with the capex criterion unchecked the claim cannot be fully resolved.