On March 1st, 2023, electric vehicle maker Tesla is organizing its first-ever Investor Day at its Gigafactory in Austin, Texas. The invitations for the event were sent out last month, and institutional and retail investors are expected to be present. The event will be live-streamed, but what announcements can one expect?
The Investor Day is Elon Musk's big chance to put to rest all investor concerns that his Twitter acquisition has been a distraction from Tesla. Investors who look at Musk to envision grand plans and execute them at Tesla would be keen to know how the CEO sees his company take on the competition in the EV market and still keep Tesla ahead of the rest.
Tesla's Third Master Plan
The expectations have also been set high by none other than Musk himself, who has not only dubbed it as the 'Third Master Plan' but also said that the event itself is important for "people and life on Earth".
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
The First Master Plan was published way back in 2006 when Tesla was a hardly known brand that wanted to make a sportscar and use the money to build an affordable car (Model S), which would be used to make more affordable cars (Models 3 and Y).
The Second Master Plan was the introduction of the Cybertruck, Semi Truck, and multiple electric public transport options, the last of which have not even seen the light of day. The first of the Semi Trucks was delivered recently and CyberTruck is yet to roll off the production line, more than two years from its initial planned dates.
The Third Master Plan, therefore, needs to be taken with a pinch of salt since Musk is unlikely to tone down his ambitions or deadlines and enthusiasts will have to contend with long wait times.
According to The Verge, the Master Plan could see Tesla teaming up with other Musk companies like SpaceX and The Boring Company not just to synergize their offerings but also to help Tesla scale to an extreme size, albeit larger than Apple.
Tesla is also expected to at least unveil its Generation 3 platform if not a car model, which aims to enable cheaper manufacturing of EVs, thereby making them more affordable for the general public. Musk has previously announced that Tesla aims to deliver 20 million EVs by the end of the decade, another ambitious project with a seemingly difficult deadline.
Wirestock/ iStock
Tesla would surely need more gigafactories to scale up its deliveries to meet this target and announcements on those lines could also be part of the Investor Day.
Musk has also said that Tesla's future will look to shift humanity away from fossil fuels suggesting that its solar and energy storage divisions could also have some big announcements lined up. Tesla's advances in developing its Cybertruck have been hampered by battery technology as well. That could also be a big reveal at the event.
Last but not the least, like all tech companies these days, Musk will also have to share details of the role artificial intelligence will play in Tesla's future. Musk had promised a million robotaxis by 2020 but its Level 2 driver assist is facing recalls from the regulators. So, there is surely much to do on this front and Musk won't shy from making some tall claims about it.
The event, which does not have an official start time, as of now, will surely have many interested, and Interesting Engineering will provide you with timely updates on what Musk promises.
