Tesla Chief Executive Officer Elon Musk announced that he would unveil the third part of his master plan during Tesla's investor day to be held at the Texas gigafactory on March 1.
Musk tweeted, "Master Plan 3, the path to a fully sustainable energy future for Earth, will be presented on March 1. The future is bright!"
Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1.— Elon Musk (@elonmusk) February 8, 2023
The future is bright! pic.twitter.com/11ug0LRlbD
Last year, during the annual shareholder meeting, Musk teased that his Master Plan 3 would be about scaling Tesla's vehicle production and supply chain for accessories like battery parts.
The tech mogul also mentioned possibly announcing a new factory location for Tesla in 2022. While there are still no official statements, it is rumored that Canada and Mexico will be the new Giga factory location.
“Our investors will be able to see our most advanced production line as well as discuss long-term expansion plans, generation 3 platform, capital allocation, and other subjects with our leadership team,” stated Tesla about the upcoming investor day.
In 2006, Musk unveiled his initial master plan called the Secret Master Plan, which touted Tesla as an affordable electric car. Currently, Tesla's cheapest model costs $43,490 in the United States.
This was followed by the four-point "Master Plan, Part Deux" in 2016 that discussed the expansion of electric vehicles to all important sectors and Tesla reaching the milestone of "true self-driving" cars.
With self-driving capabilities, Tesla envisioned its drivers being able to do whatever they wanted, such as sleeping or reading during travel. The electric vehicle company is yet to meet this target.
While Tesla began the initial production of its semi-heavy-duty trucks in 2022, the Cybertruck pickup trucks have been delayed to this year, marking another deadline missed by Tesla.
Tesla's shares dropped 65%, closing at $123.18 per share on December 30 last year, due to investors allegedly losing trust in the company because of the events following Musk’s Twitter buyout.
Musk assures investors that this is normal for Tesla, as the automotive company is prone to short-term volatility, but its long-term prospects remain strong.