Tesla Investor Day: All the pieces you must find out about Elon Musk’s newest ‘grasp plan’

On Wednesday, March 1, Tesla held its first ever Investor Day(Opens in a brand new tab) occasion at its Gigafactory in Austin, Texas, and firm CEO Elon Musk unveiled his third large “grasp plan.” Mainly that is meant to be the place the billionaire sees Tesla heading over the subsequent seven to 10 years. 

“Alright, so, Grasp Plan Half 3,” Musk mentioned, after he was launched to the stage.

“There is a clear path to a sustainable power earth with abundance,” he continued. “It doesn’t require us to destroy habitats, it doesn’t require us to be austere like cease utilizing electrical energy or something…”

Musk and Tesla govt Drew Baglino then proceeded to run down what the corporate believes is critical to maneuver to a totally sustainable financial system inside the subsequent few a long time. 

A “huge quantity of battery power storage” is required however not at present obtainable at scale, Musk defined. Nevertheless, Musk believes that the world might be powered with clear power by 2050 with an funding of $10 trillion in manufacturing and battery power storage.

The massive takeaway is that Tesla is engaged on “subsequent technology” electrical automobiles to additional facilitate these plans. Nevertheless, there wasn’t a lot provided when it comes to particulars.

One other fascinating tidbit: the 4 millionth Tesla car was manufactured on the morning of the occasion.

What was in previous Tesla grasp plans?

Musk’s third part in his grasp plan has a broader focus than his earlier iterations.

For instance, in Musk’s first grasp plan, specified by a 2006 weblog publish(Opens in a brand new tab), the corporate had reasonable goals comparable to getting cash off a single automobile, the Roadster, in an effort to reinvest in constructing extra inexpensive strains just like the Mannequin S, Mannequin 3, and Mannequin Y.

As for Musk’s second grasp plan in 2016, Musk shared extra strong concepts for Tesla, a lot of which haven’t come to fruition. Aptly referred to as Grasp Plan Half Deux(Opens in a brand new tab), the Tesla CEO shared his imaginative and prescient for a self-driving car that might be rented out to others whenever you weren’t utilizing the automobile. The Tesla would actually drive itself to a renter’s pick-up level and the Tesla’s proprietor would be capable of earn cash. Clearly this hasn’t occurred. Neither has the “excessive passenger-density city transport” talked about within the 2016 grasp plan. And whereas the promised “heavy-duty truck” seems to finally be on the way in which within the type of the Cybertruck, it has been 7 years and it is nonetheless not in the marketplace fairly but.

What does Musk say Tesla can be as much as within the coming years?

Whereas not on the similar scale as earlier grasp plans, half three did present a little bit of Musk’s now-classic prognosticating.

In line with Musk, the auto trade will finally transfer to “full electrical and autonomous.” He mentioned that driving a non-autonomous fuel car can be “analogous to driving a horse and utilizing a flip cellphone.”

As for brand spanking new merchandise, Musk defined that warmth pumps are an necessary half within the transfer to sustainable power and whereas Tesla does not have any plans proper now, “in some unspecified time in the future, we’d make a warmth pump for a house,” mentioned Musk.

There was additionally a brand new have a look at Tesla’s robotic through a video. The robotic was constructing one other bot and shifting relatively slowly, inflicting Musk to make a reference to Boston Dynamics’ spectacular robotics.

“It is clearly not doing Parkour,” he mentioned.

And, there was a short point out about going to Mars! Musk mentioned we “hope to get there in some unspecified time in the future,” which is sort of a distinction from Musk’s estimated(Opens in a brand new tab) 10 12 months timeframe that he made again in 2011.  

The place’s the Tesla merchandise?

On Musk-owned Twitter, customers appeared fairly disillusioned with Investor Day. The one actual timeline provided got here when Cybertruck was talked about, which in line with the corporate, can be obtainable later this 12 months.

Tesla inventory additionally dropped(Opens in a brand new tab) through the occasion.

There was buzz(Opens in a brand new tab) earlier than the occasion about probably new, inexpensive Tesla EVs being unveiled. There was additionally hope that there could be information a couple of robotaxi. Musk had mentioned in 2020 that Tesla would have a fleet of 1,000,000 robotaxis in use. As of 2023, the corporate does not have any.

Musk himself spent his time off-stage tweeting about non-Tesla associated issues. Whereas different executives have been presenting, Musk weighed in(Opens in a brand new tab) on a clip about Russia’s struggle in Ukraine. He additionally reminisced(Opens in a brand new tab) in regards to the time former cable information host Keith Olbermann needed to tweet from his canine’ Twitter account after he was briefly suspended from the platform.

Over the previous few months, Tesla traders have been pleading(Opens in a brand new tab) with Musk to give attention to his EV firm, believing he is been distracted by his social media acquisition, Twitter. In truth, Musk spent the ultimate moments earlier than Tesla’s large first time occasion replying(Opens in a brand new tab) to Twitter customers like proper wing influencer @Catturd2.

On prime of that, a new report is more likely to additional traders’ issues about the place Musk is spending his time, because the Tesla CEO is trying to leap into the most recent tech development by constructing a synthetic intelligence lab in an effort to create his personal AI chatbot platform.

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