On Wednesday, March 1, Tesla held its first investor day(Opens in a new tab) at its Gigafactory in Austin, Texas, and the company’s CEO, Elon Musk, unveiled his third grand “master plan.” Basically, this is supposed to be where the billionaire sees Tesla heading in the next seven to ten years.
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“Alright then, Master Plan Part 3,” Musk said, after being introduced to the stage.
“There is a clear path to a land of sustainable energy in 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 discuss what the company believes is necessary to move to a fully sustainable economy in the coming decades.
A “large amount of battery energy storage” is needed, but not currently available at scale, Musk explained. However, Musk believes that the world can be powered by clean energy by 2050 with a $10 trillion investment in manufacturing and battery energy storage.
The big takeaway is that Tesla is working on “next-generation” electric vehicles to further facilitate these plans. However, not much was offered in terms of details.
Another interesting fact: the four millionth Tesla vehicle was built the morning of the event.
What was in Tesla’s previous master plans?
Musk’s third phase in his master plan has a broader focus than his previous iterations.
For example, in Musk’s first master plan, presented in a 2006 blog post(Opens in a new tab)the company had realistic goals, such as making money from just one car, the Roadster, in order to reinvest in building more affordable lines like the Model S, Model 3, and Model Y.
As for Musk’s second master plan in 2016, Musk shared stronger ideas for Tesla, many of which have not come to fruition. aptly named Master Plan Part Two(Opens in a new tab), the Tesla CEO shared his vision for an autonomous vehicle that could be rented to others when you weren’t using the car. The Tesla would literally drive itself to a renter’s pickup point and the Tesla owner could earn money. Obviously this has not happened. Neither is the “high passenger density urban transport” mentioned in the 2016 master plan. And while the promised “heavy truck” finally seems to be on the way in the form of the Cybertruck, it’s been 7 years and it’s still not on the market.
What does Musk say Tesla will do in the coming years?
While not on the same scale as previous master plans, Part Three did provide a bit of Musk’s now-classic prognosis.
According to Musk, the auto industry will eventually go “fully electric and autonomous.” He said that driving a non-autonomous gasoline vehicle will be “analogous to riding a horse and using a flip phone.”
As for new products, Musk explained that heat pumps are an important part of the shift toward sustainable energy, and while Tesla doesn’t have any plans at this End-shutdown, “At some point, we might make a heat pump for the home,” Musk said. .
There was also a new look at Tesla’s robot via video. The robot was building another bot and was moving rather slowly, prompting Musk to reference the awesome robotics at Boston Dynamics.
“Obviously it’s not parkour,” he said.
And there was a brief mention about going to Mars! Musk said “we hope to get there at some point,” which is quite different from Musk. My dear(Opens in a new tab) 10 year End-shutdown frame which made in 2011.
Where are the Tesla products?
On Musk-owned Twitter, users seemed pretty disappointed with Investor Day. The only real timeline offered came when the Cybertruck was mentioned, which the company says will be available later this year.
So Tesla stock abandonment(Opens in a new tab) during the event.
There was buzz(Opens in a new tab) before the event on the introduction of possibly new and affordable Tesla electric vehicles. There was also hope that there would be news about a robotaxi. Musk had said in 2020 that Tesla would have a fleet of one million robotaxis in use. As of 2023, the company has none.
Musk himself spent his End-shutdown offstage tweeting about non-Tesla matters. As other executives presented, Musk heavy on(Opens in a new tab) in a clip about Russia’s war in Ukraine. Hello remembered(Opens in a new tab) about the End-shutdown former cable news host Keith Olbermann had to tweet from his dogs Twitter account after he was temporarily suspended from the platform.
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In recent months, Tesla investors has been pleading(Opens in a new tab) with Musk to focus on his electric vehicle company, believing that he has been sidetracked by his takeover of social media, Twitter. In fact, Musk spent the last moments before the big event for the first End-shutdown for Tesla. answering(Opens in a new tab) Twitter users like right-wing influencer @Catturd2.
Besides that, a new report Investor concerns about where Musk spends his End-shutdown are likely to rise as the Tesla CEO is looking to jump on the latest tech trend by building an artificial intelligence lab to create his own AI chatbot platform.