Tesla investor day: Musk's biggest moves
Tesla stock is down after Musk's investor day failed to impress
Elon Musk has succeeded at revolutionizing old ideas: Charles Payne
'Making Money' host Charles Payne weighs in on Tesla investor day and forecasts how the Fed could impact markets in March on 'The Big Money Show.'
Tesla's "Investor Day" took place Wednesday, with company executives – including CEO Elon Musk – presenting on a broad range of topics pertaining to the electric vehicle and clean energy company.
Musk made promises ahead of the investor event that the company’s "Master Plan 3" would be unveiled Wednesday – and he did so, at the beginning saying "there is a clear path to a fully sustainable earth with abundance." A "detailed white paper" containing the company’s "assumptions and calculations" will soon be put out by Tesla, the CEO also said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 242.84 | -6.14 | -2.47% |
Elon Musk gestures as he speaks during a press conference at SpaceX's Starbase facility near Boca Chica Village in South Texas on Feb. 10, 2022. Musk delivered an eagerly-awaited update on SpaceX's Starship, a prototype rocket the company is developi (Photo by JIM WATSON/AFP via Getty Images / Getty Images)
ELON MUSK BACK IN NO. 1 SPOT ON BLOOMBERG'S BILLIONAIRES LIST
Fully Sustainable Earth
The path to that "fully sustainable earth" included five steps, including "repower[ing] the existing grid with renewables," "switch[ing] to electric vehicles," "switch[ing] to heat pumps in homes, businesses & industry," and "electrify[ing] high temp heat delivery and hydrogen," and "sustainably fuel[ing] planes & boats," according to slides shown during the investor day.
Next Generation of Vehicles
Notably, none of the Tesla executives who delivered remarks at the investor day unveiled the company’s next generation of vehicle. That, according to Tesla chief designer Franz von Holzhausen, will happen at a "later date."
A Tesla logo on a Model S is photographed inside a Tesla dealership in New York April 29, 2016. (REUTERS/Lucas Jackson / Reuters Photos)
While no specific vehicle was announced, executives did offer some tidbits of information that give glimpses into what Tesla’s "next generation" could offer, particularly regarding its powertrain and drive unit.
Tesla
TESLA READIES REVAMP OF MODEL Y CODENAMED ‘JUNIPER’ - SOURCES
Tesla is aiming to reduce production costs 50% for the next-gen vehicle, according to CFO Zach Kirkhorn.
Charging
Tesla said in a tweet posted while the investor event was taking place that in 16 countries, its supercharger network is open to all types of electric vehicles.
A Tesla vehicle is charged at a Tesla supercharging station in Kettleman City, California, Jan. 25, 2023. (REUTERS/Mike Blake / Reuters Photos)
"Over 50% of our superchargers in Europe are currently open to other electric vehicles," Rebecca Tinucci said. "We’ve also opened up in Asia-Pacific, with our first sites in Australia. And just yesterday, we opened our first 10 supersites here in North America, in the U.S., to other electric vehicles."
Production Milestone
Tom Zhu announced Tesla hit a production milestone earlier Wednesday – building its 4 millionth vehicle. Tesla said in January its vehicle production for the year 2022 came in at over 1.3 million, including about 439,700 built in the fourth quarter.
TESLA TO BUILD A MANUFACTURING PLANT IN MEXICO
Tesla Electric
There are plans for offering unlimited overnight home charging to Tesla vehicle owners in Texas. The cost of that retail electricity plan, which is slated for a summertime rollout, will be $30 per month, according to the company.