Stakeholders convened in Austin, Texas, on Wednesday for Tesla’s Investor Day, when founder Elon Musk is expected to reveal his “master plan” for the electric car company, reports Mint.
The world’s richest person previewed the event in a tweet last month, saying that he would present “the path to a fully sustainable energy future for Earth”. Mr Musk last year said the “Master Plan 3” would include scaling up Tesla to “extreme size”.
Tesla also said the event would focus on long-term expansion plans, plans for a next-generation vehicle, capital allocation and other topics.
“But I will also include sections about SpaceX, Tesla and The Boring Company,” he tweeted in March.
The company will be live-streaming the event from its Texas-based Gigafactory at 3pm CST.
Mr Musk’s latest master plan follows two others previously unveiled, whose ambitions — such as “true self-driving” — remain unachieved. Mr Musk has also set a goal of selling 20 million electric vehicles annually by 2030, but the company’s four factories currently only produce 1.9 million per year.
A cheaper Tesla
Investors will be expecting Mr Musk to deliver an update on a cheaper Tesla, an idea that he has floated for years.
Mr Musk said two years ago he hoped to introduce a $25,000 Tesla, making the vehicle accessible to millions of drivers, but said last year that has been put on hold as he has not yet figured out the battery technology that would make producing the third-generation model possible.
Robotaxis
The Tesla chief executive has recently teased the idea of a robotaxi — a fully autonomous vehicle. He also predicted that production of an autonomous vehicle would begin next year, The Verge reported.
He has floated the ability of Tesla drivers to make money by turning their vehicles into robotaxis when they are not using them.
In January, he said the company is planning more hardware iterations and will stop retrofits, which could cause anger among Tesla customers who paid thousands of dollars for Full Self-Driving.
More factories?
Tesla has four car factories — in Texas, California, China and Germany. On Tuesday, Mexican President Andres Manuel Lopez Obrador said Tesla would build a new plant in the city of Monterrey.
The company also invested $3.6 billion to produce its “first high-volume Semi factory” in Reno, Nevada.
Indonesia’s President Joko Widodo said his administration has been in talks with Tesla over a potential factory as well.
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Source: Mint
