Elon Musk, CEO of Tesla tweeted On Wednesday he will present the highly anticipated and often teased Master Plan 3 during the company’s Investor Day on March 1.
Tesla’s Investor Day will be held 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 production line and discuss topics such as the company’s long-term expansion plans, Generation 3 platform and capital allocation with its management team, depending on the company.
Musk first alluded to the Master Plan 3 last March with vague goals to scale Tesla’s operations to “extreme size.” He also delved into themes like AI and noted that this next stage of the plan would include his fellow companies SpaceX and The Boring Company. Later that year, Musk revealed more details about part three of his master plan. In a company-wide meeting, the rationale for the plan is, “How do we achieve sufficient scale to actually displace Earth’s entire energy infrastructure?”
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. This plan had four steps that started with creating an expensive low-volume vehicle, then using that money to develop a mid-volume car at a lower price. Profits 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 criticize the success of the master plan, pointing out that Tesla didn’t use the profits to fund the Model 3 (it wasn’t profitable at the time) and that its high-volume car isn’t affordable. But Tesla produced the Roadster, then the Model S and X (the mid-volume car) and finally the Model 3, which can still cost over $50,000 but has proven to be a high-volume seller.
Part two, or Two hands as the name suggests, came in 2016 with a plan to “create stunning solar rooftops with seamlessly integrated battery storage”, expand Tesla’s EV product line to address all major segments, develop self-driving ability 10 times safer than manual. Finally, the plan promised that owners would be able to harness this self-driving in carpooling so they could earn money off their car when not in use.
Tesla didn’t tick all the boxes in Part 2. The Cybertruck, which is presumably part of the EV product line expansion plan, has not yet launched its advanced driver assistance system despite the brand is not autonomous and, therefore, owners will not cannot transform their vehicles into money-generating robotaxis.
It looks like Musk is ready to move on to Part 3 anyway.