Tesla Investor Day: Here’s Elon Musk’s Latest ‘Master Plan’

On Wednesday, March 1, Tesla held its first ever Investor Day event at its Gigafactory in Austin, Texas, and company CEO Elon Musk unveiled his third big “master plan.” Principally this is supposed to be where the billionaire sees Tesla heading over the following seven to 10 years. 

“Alright, so, Master Plan Part 3,” Musk said, after he was introduced to the stage.

“There’s a transparent path to a sustainable energy earth with abundance,” he continued. “It doesn’t require us to destroy habitats, it doesn’t require us to be austere like stop using electricity or anything…”

Musk and Tesla executive Drew Baglino then proceeded to run down what the corporate believes is crucial to maneuver to a totally sustainable economy inside the following few many years. 

A “vast amount of battery energy storage” is required but not currently available at scale, Musk explained. Nevertheless, Musk believes that the world will be powered with clean energy by 2050 with an investment of $10 trillion in manufacturing and battery energy storage.

The massive takeaway is that Tesla is working on “next generation” electric vehicles to further facilitate these plans. Nevertheless, there wasn’t much offered when it comes to details.

One other interesting tidbit: the 4 millionth Tesla vehicle was manufactured on the morning of the event.

What was in past Tesla master plans?

Musk’s third phase in his master plan has a broader focus than his previous iterations.

For instance, in Musk’s first master plan, specified by a 2006 blog post, the corporate had realistic goals reminiscent of being profitable off a single automobile, the Roadster, as a way to reinvest in constructing more cost-effective lines just like the Model S, Model 3, and Model Y.

As for Musk’s second master plan in 2016, Musk shared more robust ideas for Tesla, a lot of which haven’t come to fruition. Aptly called Master Plan Part Deux, the Tesla CEO shared his vision for a self-driving vehicle that might be rented out to others whenever you weren’t using the automobile. The Tesla would literally drive itself to a renter’s pick-up point and the Tesla’s owner would have the option to earn money. Obviously this hasn’t happened. Neither has the “high passenger-density urban transport” mentioned within the 2016 master plan. And while the promised “heavy-duty truck” appears to eventually be on the best way in the shape of the Cybertruck, it has been 7 years and it’s still not available on the market quite yet.

What does Musk say Tesla will probably be as much as in the approaching years?

While not at the identical scale as previous master plans, part three did provide a little bit of Musk’s now-classic prognosticating.

In keeping with Musk, the car industry will eventually move to “full electric and autonomous.” He said that riding a non-autonomous gas vehicle will probably be “analogous to riding a horse and using a flip phone.”

As for brand new products, Musk explained that heat pumps are a vital part within the move to sustainable energy and while Tesla doesn’t have any plans at once, “in some unspecified time in the future, we’d make a heat pump for a house,” said Musk.

There was also a brand new take a look at Tesla’s robot via a video. The robot was constructing one other bot and moving fairly slowly, causing Musk to make a reference to Boston Dynamics’ impressive robotics.

“It’s obviously not doing Parkour,” he said.

And, there was a temporary mention about going to Mars! Musk said we “hope to get there in some unspecified time in the future,” which is sort of a difference from Musk’s estimated 10 12 months timeframe that he made back in 2011.  

Where’s the Tesla products?

On Musk-owned Twitter, users seemed quite disenchanted with Investor Day. The one real timeline offered got here when Cybertruck was mentioned, which in keeping with the corporate, will probably be available later this 12 months.

Tesla stock also dropped in the course of the event.

There was buzz before the event about possibly latest, inexpensive Tesla EVs being unveiled. There was also hope that there could be news a few robotaxi. Musk had said in 2020 that Tesla would have a fleet of one million robotaxis in use. As of 2023, the corporate doesn’t have any.

Musk himself spent his time off-stage tweeting about non-Tesla related matters. While other executives were presenting, Musk weighed in on a clip about Russia’s war in Ukraine. He also reminisced concerning the time former cable news host Keith Olbermann needed to tweet from his dogs’ Twitter account after he was temporarily suspended from the platform.

Over the past few months, Tesla investors have been pleading with Musk to give attention to his EV company, believing he’s been distracted by his social media acquisition, Twitter. The truth is, Musk spent the ultimate moments before Tesla’s big first time event replying to Twitter users like right wing influencer @Catturd2.

On top of that, a latest report is prone to further investors’ concerns about where Musk is spending his time, because the Tesla CEO is seeking to jump into the most recent tech trend by constructing a man-made intelligence lab as a way to create his own AI chatbot platform.

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