What to Anticipate from Tesla Investor Day 2023 and ‘Grasp Plan 3’

In some way, amid Elon Musk’s demanding job of gutting Twitter, the multi-company CEO/founder/proprietor additionally plans to find time for Tesla this week: The electrical carmaker is gearing up for its first annual investor day and the discharge of the corporate’s third “grasp plan” on Wednesday, March 1, at Tesla’s Austin, Texas Gigafactory.

Musk is anticipated to take to the stage on the investor day and description his imaginative and prescient for his the corporate’s future, an train that may doubtless contain making a number of lofty guarantees. In a tweet hyping up the occasion earlier this month, the billionaire pledged that “the trail to a totally sustainable power future for Earth will probably be offered on March 1.” Which is massive if true! However appears unlikely. Musk has a behavior of vowing massive, flashy improvements and developments on tight turnarounds. Usually, things don’t work out exactly in accordance with plan.

What’s within the Tesla “Grasp Plans?”

Tesla has beforehand had two different ‘Grasp Plans.” The primary, released in 2006, outlined a normal technique of making a luxurious electrical sportscar, after which progressively extra reasonably priced fashions of electrical automobiles. Musk has principally met these preliminary objectives with Tesla’s three available sedans.

From there, issues veered astray, and Musk’s firm bulletins grew more and more grandiose. The most recent plan, launched in 2016 and titled “Half Deux,” outlined goals for Tesla to develop its EV automobile line to “handle all main segments” of transportation, together with a pickup truck and “excessive passenger-density city transport.” In July 20, 2016 weblog submit asserting the plan, Musk additionally forecast that Tesla would have fully autonomous automobiles “10x safer than handbook” driving that might act as a fleet of robotaxis—incomes passive revenue for the automobile house owners.

Since then, Musk has seemingly abandoned all mass transit plans past his less-than-impressive glorified tunnel system in Las Vegas. The Tesla Cybertruck—the corporate’s imaginative and prescient of a pickup— has languished in the pre-production phase for years now, and has been delayed repeatedly. Most just lately, Musk claimed manufacturing would start on the truck sometime this year. In the meantime, Tesla’s driver help expertise continues to be removed from fulfilling the imaginative and prescient of autonomous robotaxis—although other companies have achieved that benchmark. Tesla has been marketing its tech as “Full Self Driving,” when it’s not.

What Will Elon Musk Announce on March 1?

“Trying ahead to Tesla Investor Day on March 1,” Musk posted on February 13. “By this, we imply the broadest definition of investor, as within the individuals & lifetime of Earth. It is going to be a message of excellent hope & positivity for the long run.” Have in mind: That is simply an replace on Tesla’s marketing strategy.

Outdoors of Tesla execs and Musk himself, it’s unlikely anybody actually is aware of what actual bulletins this Wednesday’s occasion will embody. Nonetheless, there are some strong bets and guesses on the market.

In a brief press release, the corporate mentioned the occasion will characteristic Tesla’s “most superior manufacturing line,” clarify its long run growth and capital allocation plans, and focus on the “era 3 platform.” For extra particular forecasts, it helps to look backwards.

Previously, the billionaire has hinted at a $25,000 EV— sometimes called the “Mannequin 2.” Such a automobile will surely be according to Musk’s preliminary “Grasp Plan” guarantees of more and more reasonably priced automobiles. In an October 2022 earnings name, the CEO mentioned Tesla was working to cut its production costs in half, which may doubtlessly allow such a automobile. Analysts remain skeptical of the $25,000 quantity, and the corporate has delayed and backed away from plans to decrease shopper prices earlier than. However it’s nonetheless fairly doable the corporate will announce a less expensive Tesla mannequin.

In the identical October 2022 earnings name, Musk additionally referenced progress made on these aforementioned robotaxis, predicting these self-driving EVs can be in manufacturing by 2024. The firm previously promised a robotaxi takeover in 2020, although clearly that didn’t occur. However maybe Tesla lastly has one thing to point out for all its autonomous automobile speak.

Earlier this month, Tesla tweeted out a GIF exhibiting an power “ecosystem,” the place photo voltaic panels on a house’s roof cost up a Tesla EV. Between this submit, a “new luxurious roof with built-in photo voltaiclisted on Tesla’s website, and the “vibrant future” line within the Investor Day announcement, it appears doubtless there will probably be some information concerning the firm’s photo voltaic panels.

Solar energy was part of each of the corporate’s earlier “Grasp Plans,and in 2016 Tesla acquired SolarCity, an organization as soon as owned by Musk’s cousins. Since that acquisition, not a lot has occurred for Tesla’s photo voltaic panel arm in addition to a class action lawsuit over worth hikes. However it appears doubtless we’ll hear some information on Wednesday relating to Tesla’s power era and storage initiatives.

Lastly, it’s doable that Musk will use the March 1 occasion to make good on outdated commitments. Possibly the individuals who  pre-ordered Cybertrucks years in the past will lastly get a supply date. Possibly the Tesla CEO will revive the second era Roadster the corporate first showed off in 2017.

And it’s simply as doubtless there will probably be new, unrelated guarantees—which may simply flip into future delayed initiatives.

watch Tesla Investor Day 2023

To search out out what’s truly going to occur, you’ll have to look at for your self. In accordance to a Tesla tweet on February 8, the occasion will probably be be streamed reside on YouTube and Twitter, however no hyperlink has been supplied but.

We’ll replace this story as new particulars and hyperlinks develop into out there.

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