Tesla CEO Elon Musk tweeted on Wednesday that he will unveil the long-awaited and oft-mocked Master Plan 3 during the company’s investor day on March 1.
Tesla’s investor day will take place at the company’s Gigafactory Texas located near Austin. The event will be broadcast live. Some of the company’s institutional and retail investors will be invited to attend in person, according to the company. Investors will be able to view its pipeline and discuss topics such as the company’s long-term expansion plans, generation 3 platform, and capital allocation with its leadership team. according to the company.
Musk first hinted at Master Plan 3 last March with vague goals to scale operations at Tesla to “extreme size.” He, too, leaned into topics like AI, noting that this next stage of the plan would include his other companies, SpaceX and The Boring Company. Later in the year, Musk revealed more details about his Master Plan Part Three. According to a company-wide meeting, the rationale for the plan is: “How do you get to scale enough to actually change the entire energy infrastructure on earth?”
The latest update arrived on Wednesday.
“Master Plan 3, the path to a fully sustainable energy future for Earth, will be presented on March 1.”
For those unfamiliar, Musk posted a blog on Tesla’s website in 2006, describing what he described as the master plan. That plan consisted of four steps that started with creating an expensive, low-volume vehicle and then using that money to develop a lower-priced, mid-volume car. Proceeds from the mid-volume car would be used to create an affordable high-volume car. And finally, the plan ended with “providing solar energy”.
Some take issue with the success of the Master Plan, pointing out that Tesla did not use the proceeds to finance the Model 3 (it was not profitable at the time) and that its high-volume car is not affordable. But Tesla produced the Roadster, and then the Model S and X (the mid-volume car) and finally the Model 3, which may still cost upwards of $50,000 but has proven to be a huge sales volume.
second part, or Two hands as it’s called, arrived in 2016 with a plan to “create stunning solar roofs with seamlessly integrated battery storage,” expand Tesla’s EV product lineup to address all major segments, develop autonomous driving capability that’s 10 times safer than manual. Finally, the plan promised that owners could take advantage of self-driving for carpooling, so they could earn money from their car when they’re not using it.
Tesla hasn’t checked all the boxes in the deux part. The Cybertruck, which is presumably part of the plan to expand the EV product line, has yet to be released, its advanced driver assistance system, despite the branding, is not autonomous, and as a result, owners cannot convert their vehicles in robotaxis that generate money.
It looks like Musk is ready to move on to Part 3 anyway.
