Tesla, everyone’s most loved electric vehicle manufacturer recently hosted a 2023 Investor Day presentation in Austin, Texas, where Elon Musk took the stage to share his “Master Plan 3”. The CEO took this opportunity to share what his plans were for the company to scale in the future amid the rising competition.
The presentation focused on long vision, and also included an overview of its prior achievements. Though the vision for the future was grand, it felt short on presenting any specifics about the new products and services Tesla was looking to launch.
What was the presentation about?
Beginning the presentation on a strong note, CEO Elon Musk said, “There is a clear path to a sustainable-energy Earth. It doesn’t require destroying natural habitats. It doesn’t require us to be austere and stop using electricity and be in the cold or anything.”
He further added, “In fact, you could support a civilization much bigger than Earth, much more than the 8 billion humans could actually be supported sustainably on Earth.”
Senior Vice President of Powertrain and Energy Engineering at Tesla then joined Elon Musk on stage. The duo then discussed about Tesla’s future role in ‘re-powering the grid with renewable fuels’. This strategic move would boost the battery production, and would be beneficial for both Tesla’s electric vehicles and also for the company’s utility scale storage systems.
What are Tesla’s future plans?
Musk also said that Tesla is planning on producing 20 million vehicles per year by 2030. The company has also reported full-year deliveries of around 1.31 million vehicles in the previous year.
The presentation was followed by a question and answer session where Tesla executives fielded questions about the company’s growth of market share in China.
Musk passed on the question to Tom Zhu, the executive who is leading the global production and has also run Tesla’s China and APAC businesses for years.
In a response to the question, Zhu said, “It took us 12 years to build the first million, and about 18 months to the second million. The third million, 11 months. Then less than 7 months to build the 4 millionth.”
He further added, “As long as you offer a product with value at affordable price you don’t have to worry about demand. We try everything to cut costs,” he added, “and pass down that value to our customers.”
All in all, a great presentation with no particular specifics tumbled Tesla’s stocks. The question remains, will Musk’s “Master Plan 3” keep afloat amid the rising competition?
