Tesla Investor Day: Every part it’s essential to learn about Elon Musk’s newest ‘grasp plan’

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

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

“There’s a transparent path to a sustainable vitality 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 important to maneuver to a very sustainable economic system inside the subsequent few many years. 

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

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

One other fascinating tidbit: the 4 millionth Tesla automobile 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 put up(Opens in a brand new tab), the corporate had lifelike goals equivalent to making a living off a single automobile, the Roadster, as a way to reinvest in constructing extra inexpensive traces just like the Mannequin S, Mannequin 3, and Mannequin Y.

As for Musk’s second grasp plan in 2016, Musk shared extra sturdy concepts for Tesla, a lot of which haven’t come to fruition. Aptly known as Grasp Plan Half Deux(Opens in a brand new tab), the Tesla CEO shared his imaginative and prescient for a self-driving automobile that may very well be rented out to others if 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 to 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 ultimately be on the best way within the type of the Cybertruck, it’s been 7 years and it’s nonetheless not available on the market fairly but.

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

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

In response to Musk, the auto trade will ultimately transfer to “full electrical and autonomous.” He mentioned that driving a non-autonomous fuel automobile might be “analogous to driving a horse and utilizing a flip telephone.”

As for brand new merchandise, Musk defined that warmth pumps are an necessary half within the transfer to sustainable vitality and whereas Tesla doesn’t have any plans proper now, “sooner or later, we would make a warmth pump for a house,” mentioned Musk.

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

“It’s clearly not doing Parkour,” he mentioned.

And, there was a quick point out about going to Mars! Musk mentioned we “hope to get there sooner or later,” 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 supplied got here when Cybertruck was talked about, which in keeping with the corporate, might 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 can be information a few robotaxi. Musk had mentioned in 2020 that Tesla would have a fleet of 1,000,000 robotaxis in use. As of 2023, the corporate doesn’t have any.

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

Over the previous few months, Tesla buyers have been pleading(Opens in a brand new tab) with Musk to deal with his EV firm, believing he’s 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 new tab) to Twitter customers like proper wing influencer @Catturd2.

On prime of that, a new report is more likely to additional buyers’ considerations about the place Musk is spending his time, because the Tesla CEO is seeking to soar into the most recent tech pattern by constructing a man-made intelligence lab as a way to create his personal AI chatbot platform.