Tesla CEO Elon Musk tweeted Wednesday that he will present the long-awaited and often teased Master Plan 3 during the company’s investor day March 1.
Tesla’s investor day will be held at the company’s Gigafactory Texas located near Austin. The event will be livestreamed. Some of the company’s institutional and retail investors will be invited to attend in person, according to the company. Investors will be able to see its production line and discuss with its leadership team topics like the company’s long-term expansion plans, generation 3 platform and capital allocation, according to the company.
Musk first hinted about the Master Plan 3 last March with vague goals to scale operations at Tesla to “extreme size.” He also leaned into themes like AI and noted that this next stage in the plan would include his other companies SpaceX and The Boring Company. Later in the year, Musk revealed more details about his Master Plan part three. Per a companywide meeting, the plan’s raison d’être is: “How do you get to enough scale to actually shift the entire energy infrastructure of earth?”
The latest update came Wednesday.
“Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1.”
Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1.
The future is bright! pic.twitter.com/11ug0LRlbD
— Elon Musk (@elonmusk) February 8, 2023
For the unfamiliar, Musk posted a blog on Tesla’s website in 2006, outlining what he described as the Master Plan. That plan was four steps that kicked off with creating a low-volume expensive vehicle and then using that money to develop a medium-volume car at a lower price. Profits from the medium-volume car would be used to create an affordable, high-volume car. And finally, the plan ended with “provide solar power.”
Some quibble with the success of the Master Plan, pointing out that Tesla didn’t use profits to fund the Model 3 (it was unprofitable at the time) and that its high-volume car is not affordable. But Tesla did produce the Roadster, and then the Model S and X (the medium-volume car) and finally the Model 3, which may still cost more than $50,000 but has proven to be a high-volume seller.
Part two, or Part Deux as it is named, came in 2016 with a plan to”create stunning solar roofs with seamlessly integrated battery storage,” expand Tesla’s EV product line to address all major segments and develop self-driving capability that is 10x safer than manual. Finally, the plan promised owners would be able to leverage that self-driving into ridesharing so they could make money on their car when they’re not using it.
Tesla has not ticked all the boxes in Part Deux. The Cybertruck, which presumably is part of the plan to expand the EV product line, has yet to launch, its advanced driver assistance system despite the branding is not self driving and, as a result, owners cannot turn their vehicles into robotaxis that generate money.
It seems that Musk is ready to move on to Part 3 anyway.
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