AUSTIN, TX – CEO Elon Musk stated via a Tuesday evening tweet that the electric-vehicle company’s so-called “Master Plan 3” would be unveiled at the company’s annual meeting and investors event being held in Austin, Texas on March 1, 2023.
Musk said that the details of the “Master Plan 3” announcement would be made at the company’s Texas headquarters after he previously first tweeted about the project almost one year ago.
“Master Plan 3” was first teased by Musk on March 16, 2022, when the South African tech tycoon said he was “working on” the plan and noted that all would be revealed next month.
Chris McNally, an analyst with Evercore ISI, said that it is anticipated that Musk’s “Master Plan 3” will most likely tie into Tesla’s previous “Master Plan 2” revealed in 2016, which concerned numerous futuristic transportation ideas such as robotaxis, shared rides to reduce driving miles, “megapack” batteries, and recycling targets.
However, many aspects of the old “Master Plan 2” have yet to come to fruition; for example, Tesla has yet to release a promised electric bus, nor has it released a basic version of the company’s cheapest EV, the Model 3 sedan, which still currently retails for $43,500.
Stated goals regarding self-driving vehicles and car-sharing have also not yet come to pass, with Consumer Reports stating recently that “cars that can truly and safely drive themselves remain a long way off.”
“Master Plan 1” was originally revealed in 2006, which centered on releasing expensive EVs with a plan to eventually scale down price points and offer more affordable EVs in the future.
Tesla has faced an uphill battle as of late in terms of their business dealings, with the once-dominant EV manufacturer facing growing competition from other carmakers who are also moving into the EV market. Tesla shares have dropped 35 percent in value over the past year, and it remains to be seen if “Master Plan 3” will reignite intense interest in the brand once again.
Christopher Boyle is an investigative journalist, videographer, reporter and writer for SEARCHEN NETWORKS® as well as other independent news and media organizations in the United States. Christopher works on a wide variety of topics and fields, has been featured in print and online in a variety of publications, from local to national, and helps keep a keen-eye on what’s happening in the automotive world for Auto Buyers Market.