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. 

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

“There is a clear 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 a long time. 

A “huge quantity of battery vitality storage” is required however not at present obtainable at scale, Musk defined. Nonetheless, Musk believes that the world may 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 technology” electrical autos to additional facilitate these plans. Nonetheless, there wasn’t a lot provided when it comes to particulars.

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

What was in previous Tesla grasp plans?

Musk’s third section 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 submit(Opens in a brand new tab), the corporate had lifelike goals akin to being profitable off a single automotive, the Roadster, with a purpose 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, lots 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 may very well be rented out to others whenever you weren’t utilizing the automotive. The Tesla would actually drive itself to a renter’s pick-up level and the Tesla’s proprietor would be capable of earn money. 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 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 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 keeping with Musk, the car business will ultimately transfer to “full electrical and autonomous.” He stated that driving a non-autonomous fuel car might be “analogous to driving a horse and utilizing a flip cellphone.”

As for brand spanking new merchandise, Musk defined that warmth pumps are an vital half within the transfer to sustainable vitality and whereas Tesla would not have any plans proper now, “sooner or later, we would make a warmth pump for a house,” stated 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 transferring fairly slowly, inflicting Musk to make a reference to Boston Dynamics’ spectacular robotics.

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

And, there was a quick point out about going to Mars! Musk stated we “hope to get there sooner or later,” which is kind of a distinction from Musk’s estimated(Opens in a brand new tab) 10 yr 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 accordance with the corporate, might be obtainable later this yr.

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

There was buzz(Opens in a brand new tab) earlier than the occasion about presumably new, inexpensive Tesla EVs being unveiled. There was additionally hope that there can be information a few robotaxi. Musk had stated in 2020 that Tesla would have a fleet of 1,000,000 robotaxis in use. As of 2023, the corporate would not 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 brand new tab) on a clip about Russia’s warfare in Ukraine. He additionally reminisced(Opens in a brand new tab) concerning the time former cable information host Keith Olbermann needed to tweet from his canine’ Twitter account after he was briefly suspended from the platform.

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Over the previous few months, Tesla buyers have been pleading(Opens in a brand new tab) with Musk to concentrate on 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 high of that, a new report is prone to additional buyers’ considerations about the place Musk is spending his time, because the Tesla CEO is seeking to bounce into the newest tech development by constructing a synthetic intelligence lab with a purpose to create his personal AI chatbot platform.