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

Musk unveiled “Master Plan, Part Deux” in 2016, but those goals — including rolling out fully self-driving technology — haven’t been fully achieved.

By Aradhana Aravindan and Sean O'Kane, Bloomberg | Updated: 8 February 2023 12:39 IST

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

Photo Credit: Reuters

Tesla's stock lost about one-third of its value since Elon Musk took over Twitter

Highlights

Tesla’s shares have risen about 1,200 percent since 2016
The EV-maker’s stock fell 65 percent last year
Tesla said it is on track to build its long-awaited Cybertruck in 2023

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.

Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1.

The future is bright! pic.twitter.com/11ug0LRlbD
— Elon Musk (@elonmusk) February 8, 2023

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.

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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.

Samsung's Galaxy S23 series of smartphones was launched earlier this week and the South Korean firm's high-end handsets have seen a few upgrades across all three models. What about the increase in pricing? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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