Tesla’s ‘Master Plan 3’: What to expect from Elon Musk at Investor Day
Yahoo Finance's Pras Subramanian joins the Live show to discuss the expectations for Tesla's 'Master Plan 3'.
RACHELLE AKUFFO: Now Tesla's CEO Elon Musk is saying the EV maker's new master plan will see a full release during its investor day. Here with more, Yahoo Finance's Pras Subramanian. Can't wait to see what happens here, Pras.
PRAS SUBRAMANIAN: Yeah, Rachelle, we knew that investor day, they were going to talk about things like capital allocation plans, factory expansions , and that Gen 3 platform that they had mentioned, that robotaxi car. But what I expect to see more about when we do have the investor day and what Musk reveals his master plan part three is obviously we're going to want to hear more about that Gen 3 platform.
Musk says he wants 20 million cars made a year by 2030. That's going to require around, let's say, 12 gigafactories around the world. So I think that we're going to hear more about those expansion plans and where those are going to be.
Secondly, what about needed resources? How are you going to make all these batteries for these 20 million cars? They talked about having a lithium ion-- lithium refinery down in Texas. We might hear more about how they're going to acquire more lithium and cobalt and other materials and also for batteries that are more efficient and maybe even cheaper.
Storage, where are we going to store all this energy that-- needed to power these cars, clean energy, things like that? Maybe we're going to hear more about Tesla expanding the power packs that they use, these mega installations they use at utilities, maybe more about power walls for the home where people can store their energy at home for blackouts and for charging the cars.
And finally, where is all this clean energy going to come from? In master plan part two, Musk talked about expanding solar and expanding those kinds of installations. The company has sort of taken a step back recently and paused some of these big solar installations in the home and elsewhere. Maybe that's because they're setting up a new plan. Maybe we'll hear more about that in March.
I think those are the number of things you're going to hear about. But I think that's a critical element is where is the clean energy going to come from.
RACHELLE AKUFFO: Indeed, and I'll be keeping an eye on that storage factor. I think that's one of the main things putting me off sort of venturing into the EV space, apart from the price tag. But that'll be interesting. Can't wait to hear more about that. Yahoo Finance's Pras Subramanian--