Elon Musk Set to Unveil ‘Master Plan 3’ at Tesla Investor Day on March 1

Part 3 of Tesla’s so-called Master Plan about the “path to a fully sustainable energy future for Earth” will be presented on March 1, Chief Executive Officer Elon Musk wrote in a Twitter post Wednesday.

The plan has been a while in the making, with Musk tweeting in March that it was in the works. At last year’s Tesla shareholder meeting, he said the plan would be about shifting the entire global economy to becoming fully sustainable.  

Musk unveiled “Master Plan, Part Deux” in 2016, with pillars that included producing vehicles in “all major segments,” rolling out fully self-driving technology as well as a so-called solar roof product, and enabling owners to rent out their vehicles as part of a “shared fleet.” Those haven’t been fully achieved.

https://twitter.com/elonmusk/status/1623152067547394050?ref_src=twsrc%5Etfw

His tweet on Wednesday was viewed 1.6 million times within 45 minutes.

March 1 is Tesla’s 2023 Investor Day, which will be held at the electric-vehicle maker’s factory in Texas.

Tesla’s shares have risen about 1,200 percent since the second plan was released in 2016. But the company has faced challenges recently, not least a run of quarterly deliveries that missed expectations, a growing number of competitors, and concerns over Musk’s preoccupation with Twitter Inc. The EV-maker’s stock fell 65 percent last year, its first annual decline since 2016.

The mood turned more positive again late last month, when Musk said the company could produce 2 million EVs this year and minimize the impact of price cuts on its models. Tesla has said it is on track to build its long-awaited Cybertruck this year, though output will be limited until 2024, according to Musk.

© 2023 Bloomberg LP