Tesla Investor Day: Elon Musk’s ‘Master Plan’ for Tesla is ambitious, no sign of a budget car

Elon Musk unveiled the third part of Tesla’s “Master Plan,” or Master Plan 3, as he called it, in which the EV maker plans to lead the global endeavour to phase out fossil fuels and transition to sustainable energy. The strategy was unveiled at the Tesla Investor Day, an annual investor gathering which was hosted on Wednesday at the company’s Gigafactory in Austin, Texas.

Musk’s Master Plan 3 calls for the addition of renewable energy to the existing grid, the production of more electric vehicles, the installation of heat pumps in homes and buildings, the use of high-temperature heat delivery and hydrogen for industrial applications, and the construction of sustainably fueled planes and boats. Musk intends to build “a viable energy society.”

Musk’s grand vision for Master Plan 3
According to Tesla, it will take $10 trillion in investments to achieve this viable future fueled by green energy. According to Musk, it’s “not a big figure relative to the world economy.”

“There is an obvious route to long-term energy sustainability on Earth,” Musk said. “It does not necessitate the destruction of native ecosystems. It doesn’t require us to be frugal and cease using energy or to go without heat or anything.”

A major component of accomplishing that goal is increasing the world’s energy storage capability by up to 240TWh. During the occasion, Tesla execs stated that this can be done without the need to extract a substantial quantity of ore. Musk stated that it would only require less than 30 per cent of all nickel on the planet. It would also require iron, but Musk is unconcerned because it is the most plentiful metal on the globe.

Musk goes on to say that the infrastructure needed, including wind and solar, will take up “less than 0.2 per cent” of the Earth’s surface. The specifics on how all of this is supposed to work are still sketchy, but Musk vowed to issue a white paper detailing the plan shortly.

“I really wanted today to be about anyone who is an investment in Earth, not just Tesla investors who own shares,” Musk said hopefully.

An update on vehicles that are in the pipeline, and those that are not
The nearly three-hour event provided no particular details about new cars. The company did reveal two mystery vehicles that stayed hidden in the introduction pictures, one of which is obviously a smaller car and the other of which appears to be a small industrial van.

Tesla showed a new, more efficient car manufacturing method, which will be used for its next iteration of vehicles. The “Unboxed Process,” as the business names it, enables the car to be built once on the assembly line and only painted the sections that need to be painted. The manufacturer also says that the next-generation drive unit will not contain any rare earth minerals.

What about Master Plan 1 and 2?
Tesla’s prior two master designs were largely unsuccessful. While the business was able to accomplish the majority of the objectives outlined in the first plan, which was released in 2006, the second plan remains largely unfulfilled.

While Tesla has begun selling solar roofs, deployments have been sluggish. Some consumers have grumbled about exorbitant price increases. Furthermore, as revenues stay essentially flat, the business has scaled back its goals.

Since releasing its second Master Plan, Tesla has introduced two new vehicles: the Tesla Semi and the Cybertruck. Tesla Semi deliveries started late last year, and the Cybertruck is still scheduled to arrive this year, according to Tesla head designer Franz von Holzhausen, who was present at the event. Musk has stated that full manufacturing of the unusually designed truck will begin in 2024.

Where are the robotaxis?
Meanwhile, Tesla’s intentions for self-driving cars remain unknown. While Waymo and Cruise build up kilometres with their completely autonomous robotaxis, Tesla has taken a different strategy, offering a $15,000 option dubbed Full Self-Driving to hundreds of thousands of clients. Despite its misleading moniker, FSD is simply a Level 2 partly autonomous system that needs continuous driver supervision. Tesla has lately halted new FSD deployments after the National Highway Traffic Safety Administration labelled it a “crash risk.”

Similarly, Musk’s claim that Tesla owners with FSD could make passive income by dispatching their cars to autonomously gather passengers as a robotaxi service has not materialised. Musk has recently proposed that Tesla build a standalone robotaxi car, casting doubt on his initial suggestion that Teslas on the road today could qualify for such a service.

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