Tesla’s “Master Plan 3” Will Be Unveiled By Elon Musk At The First Investor Day

On March 1, at the company’s first investor day, Tesla Inc. CEO Elon Musk will present the third component of the electric vehicle (EV) manufacturer’s “Master Plan.”

The billionaire outlined his plans for the electric car manufacturer in 2006 and 2016, but many of the goals have yet to be met.

“Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1,” Musk tweeted on Wednesday.

At Tesla’s annual shareholder meeting in August, Musk stated that the third component of his Master Plan would “basically be about scaling” the manufacturing of both cars and the supply chain that underpins them, such as materials and components for batteries.

Tesla said it will discuss its next-generation vehicle platforms at the upcoming investor day, which will be held at its gigafactory in Texas. Elon Musk has claimed that these platforms would result in a car that costs about half as much as Tesla’s current vehicle underpinnings. Long-term expansion plans, capital allocation, and other topics will also be covered, according to Tesla.

Last year, Tesla shares experienced their worst annual performance as a result of Musk selling Tesla shares to pay for his acquisition of Twitter and other shareholders losing faith in his commitment to the automaker, whose sales growth fell short of expectations.

In 2006, Musk unveiled “a secret mast plan,” which includes a cost-effective electric vehicle; however, the entry-level Tesla model costs $43,490 in the US.

Musk unveiled his “Master Plan, Part Deux” in 2016, a four-point plan that calls for expanding the company’s selection of electric vehicles to cover all significant market segments and achieving “true self-driving.” While Cybertruck pickup trucks have been delayed until 2023, its Semi heavy duty electric trucks began “pilot production” last year.

In that 2016 plan, Musk claimed Tesla owners would be able to travel to their destination while sleeping, reading, or doing anything else, and earn money by renting out their autonomous vehicles when they are not in use. However, Musk claimed in October of last year that the vehicles were not yet ready for autonomous driving, having fallen short of his goals.

(Adapted from MarketWatch.com)


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