On March 1, Tesla CEO Elon Musk will unveil the third part of the company’s “master plan” during its first investor day.
Musk previously laid out his vision for the electric carmaker in 2006 and 2016, but many of those plans have yet to materialize.
During Tesla’s annual shareholder meeting in August, Musk revealed that the third part of his master plan would focus on ramping up both car production and the supply chain, including battery materials and components.
The upcoming investor day, which will take place at Tesla’s Gigafactory in Texas, will provide details about the company’s next-generation vehicle platform.
Musk has claimed that these platforms will be able to produce a vehicle that costs half as much as Tesla’s current vehicle base. Additionally, Tesla will discuss its long-term expansion plans, capital allocation, and other topics.
Last year, Tesla shares experienced their worst annual performance, which some attribute to Musk selling shares to fund the Twitter purchase and other shareholders to a loss of confidence in its focus on the carmaker. Tesla’s sales growth hasn’t lived up to some investors’ expectations.
Musk’s 2006 “secret master plan” included building an affordable electric car, but Tesla’s cheapest model currently costs $43,490 in the United States.
In 2016, Musk unveiled his “master plan, part deux”, which included expanding the electric vehicle lineup across all major segments and achieving “true self-driving”.
In 2022, Tesla’s semi-heavy-duty electric trucks begin “pilot production,” while the release of its Cybertruck pickup trucks has been delayed until 2023.
As part of the 2016 plan, Musk claimed that Tesla drivers would be able to sleep, read or do something else while earning money by renting out their autonomous vehicles when they are not in use.
However, in October 2022, Musk revealed that Tesla’s cars were not yet ready to operate without a human driver, as the company had missed its goal of achieving self-driving capability.
Tesla Investor Day will be live streaming on Twitter and YouTube March 1, 2023, at 3 pm CST (March 2, 2023, at 2:30 am IST).
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Information Source: MINT