Elon Musk has revealed the third part of his Master Plan for Tesla, which focuses on a sustainable future without fossil fuels. The first part was about building a wide range of affordable models, starting with a sports car, followed by using the money to create an affordable car, and then using that money to build an even more affordable one. While most of the plan was implemented, the company failed to provide affordable electric vehicles. The second part focused on including solar roofs with battery storage, expanding the product line, and developing safer autonomous driving capabilities. Not all aspects of the plan were fulfilled.
The third plan focuses mainly on shifting Tesla’s focus to the entire world by accelerating the global transition to sustainable energy. Musk says that a sustainable energy economy is within reach but will require incredible levels of investment—around $10 billion—in new technologies to get there. Tesla wants to incentivize its customers to use renewable energy and plans to do so with a very affordable unlimited home charging plan that will only be available to certain Tesla owners in Texas, at least for now. The company hopes to encourage its customers to charge their electric vehicles at home during the night using renewable energy. Tesla also announced that the next Gigafactory will be built near Monterrey, Mexico, and will build future Tesla electric vehicles based on some changes, such as a smaller, lighter, more efficient, and affordable architecture.
Regarding AI, Musk confirmed that it is necessary to have a regulatory authority to ensure that this “fairly dangerous technology” works for the benefit of users. The almost three-hour event did not include any specific information about new vehicles, and as the event went on, investors became increasingly discouraged, and Tesla’s stock fell by 6.8%. However, the company demonstrated a new and more efficient manufacturing process for electric cars that will be used for its next generation of vehicles. The company calls it the “Boxless Process,” which allows the vehicle to be built once on the assembly line, and only essential parts are painted.