Tesla, the leading manufacturer of electric vehicles, had a 2023 investor day presentation on Wednesday in Austin, Texas. Elon Musk, CEO of Tesla, spoke on stage about his Master Plan 3 and how Tesla intends to grow in the face of heightened competition. The presentation was heavy on vision and reviewed previous accomplishments, but it was lacking on details regarding any brand-new Tesla goods or services.
There is a clear road to a sustainable-energy Earth, according to Musk, who made this claim towards the start of the presentation. It is not necessary to destroy natural environments. It doesn't call for us to live in squalor, give up electricity, or endure the cold in any way. Musk added that a civilization considerably larger than Earth's population of 8 billion people could truly be sustained sustainably on the planet.
Drew Baglino, senior vice president of powertrain and energy engineering at Tesla, first joined Musk on stage. As Tesla builds up battery production for its EVs and and for the business's utility-scale energy storage devices, they imagined a future in which the company will play a part in contributing to the grid with renewable fuels. According to officials, Tesla intends to build 20 million electric vehicles annually by 2030. In 2022, the business reported full-year deliveries of roughly 1.31 million automobiles.
Tesla executives field questions in the Q&A
During the three-hour presentation, officials received questions from the audience, including one on how Tesla could increase its market share in China. Tom Zhu, who is in charge of worldwide production and has long-run the APAC and China businesses for Tesla, received the enquiry from Elon Musk and then forwarded it to him. According to Zhu, you don't need to worry about demand as long as you provide a product with value at a reasonable price. Moreover, Zhu stated that as of Wednesday, Tesla had produced a total of 4 million vehicles, and he included that Tesla intends to build additional car and battery cell factories and increase annual car production at its current facilities.
Tesla's head of charging Rebecca Tinucci said the business will offer 9 terawatt hours of total charging capacity in 2022, including 40,000 Superchargers and home charging. Additionally, Tinucci mentioned that the business recently opened 10 Superchargers in the United States to non-Tesla vehicles and that almost half of its Superchargers in the EU are accessible to other vehicles.
Tesla's vice president of vehicle engineering, Lars Moravy, and design leader Franz von Holzhausen took the stage to demonstrate a variety of anticipated manufacturing innovations intended to increase the effectiveness of Tesla vehicle production. Yet, von Holzhausen says that Tesla won't yet make public its "next gen" vehicle.
Colin Campbell, the company's vice president of powertrain, said Tesla's upcoming powertrain facility will be 50% smaller than the one in Austin but will still have the same capacity. He added that the company is developing a new type of motor that won't use any rare earth metals and is compatible with any sort of battery cell.
In advance of the investor day in 2023, Tesla has opted to develop a significant plant in Monterrey, Mexico, according to Mexico's president, Andres Manuel Lopez Obrador, who made the announcement during a press conference on Tuesday. He said that the company had made a commitment to use recycled water and take other actions to address the region's water scarcity.
On Wednesday, Musk announced the plans for the facility and stated that rather than replacing existing Tesla factory production, it would enhance it.
After dips in 2022, Tesla stock has recovered and is now up more than 60% for the year. However, the stock fell 5% after hours on Wednesday and 1.43% during the event. The Model 3 car, which starts at a price point of about $43,000, is the cheapest Tesla currently on the market, they said. According to Mizhuo, seven models from different automakers are now available for less.
Musk's ambitious "Master Plan, Part Deux" wasn't fully realized when it was published in 2016. There were four key goals in it:
Build beautiful solar roofs that elegantly include battery storage and expand the electric vehicle product line to serve all significant market sectors. With huge fleet learning, create a self-driving capability that is ten times safer than manual, and provide your car the capacity to generate income when you aren't using it.