Home / Companies / News /  ‘The future is bright’: Tesla to unveil ‘Master Plan 3’ on March 1 says Elon Musk

As Tesla basks in its record-setting sales for the past year (in California), CEO Elon Musk has revealed fresh plans for the future. According to an update shared by the billionaire businessman, Tesla will present Master Plan 3 on March 1 when the company holds its first investor day.  

“Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1. The future is bright!" he tweeted.

The previous chapters of the master plan were unveiled in 2006 and then a decade later in 2016. However, much of Musk's vision for the electric carmaker is yet to be achieved.

In August last year the CEO had said Master Plan 3 was "going to fundamentally be about scaling" both car production and the supply chain that supports it such as battery materials and components. 

The company also plans to share details about its next-generation vehicle platforms at the upcoming investor day at its gigafactory in Texas. Musk has said the company would produce a vehicle about half the cost of Tesla's current vehicle underpinings. Tesla also said it will discuss long-term expansion plans, capital allocation and other subjects.

In 2006, Musk had unveiled "a secret master plan" that included an affordable electric car. A decade later came "Master Plan, Part Deux" - a four-point manifesto that included expanding its electric vehicle lineup to all major segments and achieving "true self-driving." Its Semi heavy duty electric trucks has started "pilot production" last year, while its Cybertruck pickup trucks have been pushed back to 2023.

As part of that 2016 plan, Musk said Tesla drivers would be able to sleep, read or do anything else enroute to their destination and make money by renting out their autonomous vehicles when they are not in use. However in October last year he admitted that Tesla vehicles were not yet ready to have no one behind the wheel.

Tesla Inc's Model Y and Model 3 electric vehicles were the top-sellers in California last year, outselling Toyota Motor Corp's RAV4 and Camry models, according to an industry body report. It is the first time a Tesla model topped the annual sales list in California - a major vehicle market where one in five cars is electric.

(With inputs from agencies)

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