Home / News / World /  Elon Musk to unveil Tesla's 'Master Plan 3' today: What to expect

On March 1, Tesla CEO Elon Musk will unveil the third part of the company's "Master Plan" during their first investor day. Musk previously laid out his vision for the electric carmaker in 2006 and 2016, but many of those plans have not yet been achieved.

During Tesla's annual shareholder meeting in August, Musk revealed that the third part of his Master Plan would focus on scaling both car production and the supply chain that supports it, including battery materials and components.

The upcoming investor day, which will take place at Tesla's gigafactory in Texas, will provide details about the company's next-generation vehicle platforms. Musk has claimed that these platforms will be able to produce a vehicle that costs half as much as Tesla's current vehicle underpinnings. Additionally, Tesla will discuss its long-term expansion plans, capital allocation, and other subjects.

Also Read: Elon Musk reclaims world's richest man position

Last year, Tesla shares experienced their worst annual performance, which some attribute to Musk selling shares to fund his purchase of Twitter and other shareholders losing confidence in his focus on the carmaker. Tesla's sales growth did not meet the expectations of some investors.

Musk's 2006 "secret master plan" included the creation of an affordable electric car, but Tesla's cheapest model is currently priced at $43,490 in the United States. 

In 2016, Musk unveiled his "Master Plan, Part Deux," which included expanding the electric vehicle lineup to all major segments and achieving "true self-driving." In 2022, Tesla's Semi heavy duty electric trucks began "pilot production," while the release of its Cyber Truck pickup trucks has been delayed until 2023.

Also Read: Elon Musk hires AI researchers to develop ChatGPT rival

As part of the 2016 plan, Musk claimed that Tesla drivers would be able to sleep, read, or do anything else enroute to their destination while making money by renting out their autonomous vehicles when they are not in use. 

However, in October 2022, Musk revealed that Tesla's cars were not yet ready to operate without a human driver, as the company had missed its targets for achieving self-driving capability.

Tesla Investor Day will be streaming live on Twitter and YouTube at 2:30 AM on March 2 (Indian time).

(With agency inputs)

Sounak Mukhopadhyay
Sounak Mukhopadhyay, who also goes by the name Sounak Mukherjee, has been producing digital news since 2012. He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. He's also contributed to Free Press Journal and TheRichest with feature articles. He covers news for a wide range of subjects including business, finance, economy, politics and social media. Before working with digital news publications, he worked as a freelance content writer.
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