Musk says Tesla's 'Master Plan 3' coming on investor day — here's what to expect
Tesla (TSLA) is sending out invites to its highly anticipated Investor Day on March 1, at its Gigafactory in Texas. But CEO Elon Musk says there will be more coming at this event - his Master Plan part 3.
During Tesla’s Investor Day, announced last month, the company will reveal, among other things, its long-term expansion plans, capital allocation details, and its upcoming “generation 3” auto platform.
With the invites sent out, commentators have noticed an “easter egg” if you will, with the texture of the background image appearing to show millions of vehicle bodies used in manufacturing. Musk confirmed what Tesla fans were thinking, that he would indeed reveal his upcoming Master Plan 3:
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
Musk had previously teased his Master Plan 3 early last year, saying it would be dealing with things like “scaling [production] to extreme size, which is needed to shift humanity away from fossil fuels, and AI.”
This follows up on prior master plans that Musk has envisioned, with varying degrees of results. Recall that his previous "Master Plan, Part Deux" involved developing solar cell and battery technology, expanding the EV product line, and implementing self driving and fleet sharing. While not all of his predictions have come to pass thus far, the company seems to be on track — although likely years behind Musk’s audacious timelines.
Meanwhile, expect Musk to present a plan to address a number of issues in order to “shift humanity away from fossil fuels” and toward a fully-sustainable future for Earth, as he says.
Here's what investors and Tesla fans might hear:
First, of course, is the volume production of its EVs, and rounding out its vehicle platform. The upcoming production of the Cybertruck later this year should address this market, but it remains to be seen if volume production can be achieved and whether the truck's polarizing design will lead to strong sales. The EV pickup market, at least in the U.S., appears to be strong with unmet demand — which falls in Tesla’s favor.
A generation 3 platform, which will likely be Tesla’s cheaper, robo-taxi car as Musk has called it, will be key to mass volume expansion of Tesla’s cars, and EVs globally in general. An EV costing around $25,000-$30,000 will open up a wide swath of potential customers, here and abroad, looking for a cheap EV alternative. Musk has said his plans are for Tesla to be producing 20 million cars a year by 2030, so a new cheaper platform—and more information on new Gigafactories and capital expansion— will be key to achieving that goal.
As for a fully sustainable energy future, Musk will likely have to detail how the company will gather the materials necessary to build all its cars. (Will we will hear more about lithium mining projects?) Also: more on energy storage using its powerpacks for utilities and powerwalls for the home—and how it will expand solar installations to capture more clean energy. (Technically part of Master Plan 2, and basically incomplete).
Expect to hear more about Tesla’s Investor Day and Master Plan part 3 in the weeks ahead.
Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.
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