Elon Musk debuts plan for Tesla at investor day occasion

The investor occasion began almost half-hour after it was scheduled to start.

Beforehand, Musk tweeted “You’re not gonna consider this, however we’re operating just a little late!”

Musk kicked off the occasion by outlining a plan for a extra sustainable earth — a plan that appeared to have little to do with Tesla, apart from emphasizing the significance of electrical automobiles.

“Using a non-autonomous gasoline automobile is gonna be analogous to driving a horse and utilizing a flip cellphone,” he mentioned. The corporate would publish a white web page with its plan quickly, he mentioned.

Tesla leaders revealed some adjustments to its manufacturing processes, hinting that the efficiencies can be used on a “next-gen” car, however design govt Franz von Holzhausen didn’t give particulars.

“I’d love to actually present you what I imply and unveil the next-gen automobile,” he mentioned. “However, you’re gonna need to belief me on that till a later date.”

Tesla’s inventory worth fell through the occasion, slumping almost 2 p.c in after-hours buying and selling.

In the meantime, the corporate has confronted demand and provide chain issues, an getting older lineup of automobiles and broader issues about manufacturing. Tesla has established itself because the market chief in electrical automobiles, breaking manufacturing and supply data and placing hundreds of thousands of EVs within the fingers of shoppers. Nevertheless it has additionally confronted challenges lately, and its newest plans come as mainstream automakers pivot to electrical vehicles, creating extra competitors within the house.

Tesla has lengthy promised a pickup truck, which it dubs the Cybertruck, however has but to provide the mannequin — which has an unorthodox, angular design — since unveiling it in 2019. Tesla has additionally promised a brand new model of its Roadster sports activities automobile however has not supplied specifics on an eventual launch. The corporate late final 12 months delivered its first long-haul vans, dubbed the Tesla Semi.

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Dan Ives, an analyst with Wedbush Securities, mentioned in an analyst observe that Tesla’s plan would offer a key look into the corporate’s “operations and skill to fulfill demand seen for its automobiles globally over the approaching years.”

The agency was additionally anticipated to offer updates on a possible manufacturing facility in Mexico, including to its main manufacturing hubs in Fremont, Calif., Austin, the Berlin area and Shanghai.