What is Tesla’s Master Plan 3 announced by Elon Musk?
The electric vehicle manufacturer is expected to provide updates on its Full Self-Driving technology and a possible cut-price $25,000 model.
Tesla is preparing to unveil the third ‘Master Plan’ at the brand’s upcoming Investor Day, which will outline the future of the world’s most valuable automobile company.
In the past Elon Musk has used these events to announce the firm’s strategic vision and offer a first look at exciting new technologies in the pipeline. This iteration of the Master Plan will focus on “the path to a fully sustainable energy future for Earth,” Musk wrote on Twitter.
Tesla’s Investor Day event will take place on Wednesday, 1 March at the company’s gigafactory in Texas.
What will Elon Musk announce in Master Plan 3?
Never shy of a bold claim, Musk typically uses the ‘Master Plan’ events to celebrate new technologies and summarise the future development of the company.
The upcoming iteration was first announced in March 2022, when Musk tweeted: “Main Tesla subjects will be scaling to extreme size, which is needed to shift humanity away from fossil fuels, and AI”.
He added that the presentation will include “sections about SpaceX, Tesla and The Boring Company.”
Musk reiterated these claims in an annual shareholder meeting last August in which he said that the Master Plan 3 was “going to fundamentally be about scaling”. Tesla is responsible for both car manufacturing and the production of components and battery materials required to make the vehicles.
The Verge predicts that Musk may, for the first time, provide concrete details on the long-awaited $25,000 electric vehicle. This would fit in with his claims regarding production scaling and may explain why the brand dropped the prices of a number of models considerably in recent months.
Tesla has been a long-standing proponent of automated vehicles so many are expecting an update on the firms’ controversial Full Self-Driving system. Any progress on automated vehicles will likely be fed into Musk’s plans for robotaxis and networks of driverless cars.
What has been announced at previous Tesla Master Plan events?
Back in 2006 Elon Musk published a blog article on the Tesla website, entitled ‘The Secret Tesla Motors Master Plan (just between you and me)’. In it he outlined the company’s “long term plan” and promised to introduce “affordably priced family cars” to compliment Tesla’s single offering at the time, the Tesla Roadster.
Musk said he wanted to build out the company range, which he did with a series of other models in the following years. He also outlined plans to provide charging options that would allow drivers to ‘re-fill’ with solar panels.
The second instalment of the Master Plan – Part Deux – was announced in 2016. This expanded the firm’s offering into trucks and buses, and focused on energy generation practices as well as car manufacturing.
This was also one of the first major public outings for Tesla’s fledgling driverless technology, which is still yet to be rolled out at a significant scale. Tesla fans will be hoping for an update on that technology at the upcoming Master Plan.