Tesla will unveil its “Master Plan Part 3” at “Investor Day” on March 1

Published

2 years ago

February 8, 2023

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Tesla will finally unveil a planned expansion of its “master plan” on March 1st at the company’s “Investor Day” summit at Giga Texas, said CEO Elon Musk today.

Tesla announced its “Investor Day” event last month, to occur in March. This is a new event by Tesla, seemingly separate from the annual shareholder event, where some investors will be invited to see updates on Tesla’s progress. The event will be livestreamed as well. In the past, Tesla has held a “Battery Day” and an “AI Day” focusing on those topics.

The company said that Investor Day would include factory tours and discussion of Tesla’s long-term expansion plans and its upcoming generation 3 vehicle platform. Its announcement came after the end of Tesla’s worst year in the stock market ever, dropping some 65% in 2022. We now know that Investor Day will include Tesla’s newest “master plan.”

Musk first teased this expansion of Tesla’s “Master Plan” last March, meaning almost a year has passed since it was first publicly mentioned. We thought there was a chance the plan would be unveiled at Investor Day, and that prediction was confirmed today.

This is the third version of the company’s “master plan,” the first of which was posted in 2006.

Master Plan Part One

At first, Tesla’s “secret master plan” was a cheeky blog post on the company’s original blog site. The goal was to lay out the vision behind Tesla as a company, and let people know what the company was planning to do. The idea was, instead of auto industry plans being shrouded in secrecy, Tesla would be upfront about what it wanted to do to change the industry – to lead us into an all-electric future.

So, the four steps of the original plan went thusly:

Build sports car
Use that money to build an affordable car
Use that money to build an even more affordable car
While doing above, also provide zero emission electric power generation options

These referred to the original Tesla Roadster, the Tesla Model S (which was originally intended to start at $50,000 after credits), and the Tesla Model 3 (originally intended to start at $35,000).

Then, ten years down the line, in 2016, the company had finished the first two steps and was in the process of acquiring SolarCity and putting the final touches on the Model 3, and thus, the end of the plan was in sight. So it was time for an update.

Master Plan Part Two

Tesla’s “Master Plan, Part Deux” was less cheeky, but again laid out the future plans of the company. In short, these were the four steps this time around:

Create stunning solar roofs with seamlessly integrated battery storage
Expand the electric vehicle product line to address all major segments
Develop a self-driving capability that is 10X safer than manual via massive fleet learning
Enable your car to make money for you when you aren’t using it

These steps were a little more complicated, a little more specific, and perhaps a little more aspirational. And Tesla has seen perhaps less success bringing them to market than the steps of the original plan.

Step 1 has been completed, and some customers do have solar roofs, but installations have never really gotten off the ground in large numbers, and Tesla has drastically cut back on installations of solar roofs.

Step 2 is basically complete, depending on how we define “major.” Cybertruck is nearing production, and is probably about as close to market as Model 3 was at the time Part Deux was posted. Tesla Semi is on the road now, and Tesla has both large and mid-size luxury sedans and crossovers available. These are most of the main “major” segments of vehicles, though Tesla does not have a truly affordable car (even its “$35k” model now starts at $43,940 after a recent huge price drop) or any small sedan or hatchback. Or a sportscar, for that matter, but that’s not really a major segment.

Step 3 could be argued, but requires heavy massaging of the data. Tesla’s most recent Autopilot safety report shows one accident per 4.31 million miles while activated, compared to one accident per 484,000 miles for average vehicles. This is about 10x, but doesn’t take into account that Autopilot is mostly used on highways, which are dramatically safer than city roads, and new cars are safer than older cars as well. When comparing to Tesla cars without Autopilot active, Autopilot is only about 2.7x safer “than manual” – and again, this does not account for highway vs. surface street differences.

And step 4 is not even close (unless you listen to Musk, who has been promising self-driving tech “by this time next year” for about ten years now).

So, execution of this plan has been a little more equivocal than the first. Nevertheless, Tesla sees a need to issue an update regardless, this time seven years after the previous plan was posted, instead of ten.

Master Plan, Part Three

So, what’s left for Master Plan Part Three?

Well, Musk’s announcement today suggested that “the path to a fully sustainable energy future for Earth will be presented on March 1”:

Tesla has previously said that Master Plan Part 3 is “all about achieving very large scale” in vehicle and battery pack production, including mining and refining, enough to “actually shift the entire energy infrastructure of earth.” Tesla has recently considered getting into mining, which could end up being part of the master plan update, and is rumored to be looking to build a factory in Mexico as well.

Musk’s statement today suggests that the plan won’t just include discussion of cars, but also sustainable energy options. Tesla’s current sustainable energy products include solar system installations, solar roof tiles, and stationary battery installations with Powerwalls (for home storage) and Powerpacks (for grid storage). Then there’s Tesla’s Virtual Power Plant program, where Powerwall owners can join a distributed network of energy storage to help back up the grid in times of need.

These are basically covered in step 4 of the first master plan, and step 1 of the second master plan, so we suspect they will make an appearance in the third master plan.

It seems likely that we’ll see something similar to the incomplete points of the last master plan, perhaps having to do with autonomous driving. Particularly, maybe we’ll hear an update on the dedicated robotaxi which Tesla has alluded to multiple times.

Beyond that, the image chosen for the advertisement is notable, as it seems to be a large repeating pattern of many stamped car bodies. This refers to the previously-announced focus on production scaling, as Tesla still plans to scale car production and deliveries by ~50% per year for the foreseeable future. Tesla delivered 1.3 million in 2022, which was up 40% from 2021, and wants to deliver 1.8-2 million cars in 2023.

And perhaps, even though Tesla used pictures of a Model 3 body, it might announce a new, even-more-mass-production model.

Tesla has previously mentioned that Investor Day would include discussion of its “generation 3” platform, which is expected to be more affordable than the Model 3/Y platform. Since those cars were originally meant to start at around $35k, the next step was to release a vehicle starting at around $25k, but Tesla has gone back and forth on whether that car was in the plans.

We suspect we’ll find out on March 1 whether it is.

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Environment

Toyota to buy clean power from a $1.1 billion solar farm in Texas

Published

7 hours ago

November 1, 2024

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Toyota to buy clean power from a .1 billion solar farm in Texas

solar farm — https://unsplash.com/photos/solar-panels-on-green-field-513dBrMJ_5w

Enbridge, a Canadian energy company, just announced it’s moving forward with an 815-megawatt (MW) solar project called Sequoia in Texas. When it’s done, it’ll be one of the largest solar farms in North America. The project’s price tag is a hefty $1.1 billion.

Enbridge’s Sequoia, around 150 miles west of Dallas, has already landed long-term power purchase agreements (PPAs) with AT&T and Toyota, ensuring most of its output is sold for years to come. This deal was highlighted in Enbridge’s third-quarter report on Friday.

Sequoia will be built in two phases, with power expected to start flowing in 2025 and 2026. Enbridge says it’s taken steps to reduce risks by securing equipment and procurement contracts in advance. Permits and purchase orders are also locked down.

Toyota’s PPA with Enbridge’s Texas solar project is part of Toyota’s broader push toward sustainability, as the automaker aims to achieve net zero by 2035 and match 45% of its purchased power with renewable electricity by 2026 as it still clings to its “diverse powertrain strategy.”

If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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Environment

NIO’s EV sales top 20,000 for the sixth straight month as new low-cost SUV shows promise

Published

8 hours ago

November 1, 2024

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NIO's EV sales top 20,000 for the sixth straight month as new low-cost SUV shows promise

With its new electric SUV rolling out, NIO’s (NIO) sales topped the 20,000 mark again in Oct, its sixth straight month hitting the milestone.

NIO sold 20,976 vehicles last month, up 30.5% from October 2023. The NIO brand sold 16,657 vehicles, while its new “family-oriented smart vehicle brand,” Onvo, contributed 4,319 in its first full sales month.

After launching its new mid-size Onvo L60 electric SUV in September, NIO said production and deliveries are steadily ramping up.

At the end of October, NIO’s Onvo had 166 Centers and Spaces throughout 60 cities. Onvo plans to continue expanding its network to drive future growth.

NIO’s new electric SUV starts at around $21,200 (149,900) and is a direct rival to Tesla’s Model Y. The base $21K model is if you rent the battery. Even with the battery included, Onvo L60 prices still start at under $30,000 (206,900 yuan), with a CLTC range of up to 341 miles (555 km). That’s still less than the Model Y.

Tesla’s Model Y RWD starts at around $35,000 (249,900 yuan) with 344 mi (554 km) CLTC range in China.

NIO’s new Onvo brand drives higher Oct sales

NIO has often compared its new electric SUV to the Model Y, claiming it’s superior in many ways. The L60 has better consumption at 12.1 kWh/100km compared to the Model Y at 12.5 kWh/100km).

With a longer wheelbase (2,950 mm vs 2,890 mm), NIO’s electric SUV also provides slightly more interior space.

Despite the L60’s success so far, NIO believes its second Onvo model will be an even bigger hit. It could be a potential game-changer.

“If you think the L60 is good, then this new model is a much more competitive product,” NIO’s CEO William Li told CnEVPost after launching the L60. Onvo will launch a new EV every year. Following the L60, Onvo will launch a new mid-to-large-size electric SUV next year.

NIO’s leader claims the new model will be revolutionary. According to Li, it will offer even more surprises than the L60. Deliveries are planned to begin in Q3 2025.

NIO Onvo L60 vs Tesla Model Y trims	Range (CLTC)	Starting Price
NIO Onvo L60 (Battery rental)	555 km (341 mi) 730 km (454 mi)	149,900 yuan ($21,200)
NIO Onvo L60 (60 kWh)	555 km (341 mi)	206,900 yuan ($29,300)
NIO Onvo L60 (85 kWh)	730 km (454 mi)	235,900 yuan ($33,400)
NIO Onvo L60 (150 kWh)	+1,000 km (+621 mi)	TBD
Tesla Model Y RWD	554 km (344 mi)	249,900 yuan ($34,600)
Tesla Model Y AWD Long Range	688 km (427 mi)	290,900 yuan ($40,300)
Tesla Model Y AWD Performance	615 km (382 mi)	354,900 yuan ($49,100)

NIO Onvo L60 compared to Tesla Model Y prices and range in China

Local reports suggest a six-or seven-seat electric SUV could hit the market even sooner. With rumors of a launch around Q1 2025, deliveries could happen as soon as May 2025.

According to sources close to the matter, the L60 is just a “stepping stone” with even more exciting EVs on the way. The source claimed the new six-seat option will start at around $42,100 (300,000 yuan).

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Environment

Velotric Ebikes’ big early-bird Black Friday discounts are here!

Published

9 hours ago

November 1, 2024

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Velotric Ebikes' big early-bird Black Friday discounts are here!

Velotric Ebikes are designed by some of the most brilliant minds in the business. And now, you have the opportunity to own one (or two!) of these high-performance, elegant, reliable rides. You won’t want to miss these fantastic early-bird Black Friday deals running from November 1-14, and, also get a sneak peek at special offers that start on November 8.

Read on to find the right model for you and learn how you can donate $5 to get up to $550 off a superb Velotric electric bike.

Velotric Black Friday deals – give to get back

If you donate $5 to either the Clean Air Task Force or the Solutions Project at checkout, you’ll unlock some fantastic discounts off Velotric e-bikes:

Clean Air Task Force: Fighting air pollution for healthier communities
The Solutions Project: Advocating for 100% renewable energy in frontline communities

Plus, Velotric is giving Electrek readers an exclusive discount: Enter the code Electrek20 at checkout to get an additional $20 OFF!

Velotric Discover 2 Ebike

The Velotric Discover 2, Velotric’s most comfortable e-bike, now has even more power, with a 750W high-performance motor and 75 Nm of torque. The 48V 706 Wh battery, providing up to 75 miles per charge, maximizes your range.

You can ride in comfort, as the frame design supports an upright posture; plus, it’s got a 200mm wide saddle and ergonomic grips, reducing long-ride strain. Enjoy a premium, versatile ride that turns every journey into a joyride.

Discover 2 – Save up to $200

Velotric Summit 1 Ebike

If you want both an everyday bike and a trekking bike, then this is the one for you. The customizable Velotric Summit 1 Ebike is a hybrid e-bike featuring a 750W motor with 90 Nm of torque that delivers exceptional power for both city streets and offroad terrain, and the intuitive throttle means you can access that power effortlessly. When you’re off-road, the 120mm travel suspension absorbs the impacts, resulting in a smoother ride. The 48V, 705.6Wh battery provides up to 70 miles of charge.

Plus, it features a vibrant multifunctional screen with three configurations and use the Velotric app to monitor mileage and access real-time bike data.

Summit 1 – Save up to $200

Velotric Nomad 1 Plus Ebike

The Nomad 1 Plus Ebike‘s 750W motor and 75 Nm torque allow you to conquer just about any terrain. The 691Wh battery keeps you on the move for up to 55 miles, an 80mm suspension fork smooths your ride, and powerful waterproof hydraulic brakes give you full control.

The Nomad 1 Plus features an adjustable stem, a brighter front light, and max speed adjustable range is 12-28 mph.

Nomad 1 Plus – save up to $550

Velotric Fold 1 Ebike

The Velotric Fold 1 Ebike becomes compact in just three quick moves, but don’t mistake it for simple. The high-performance 750W motor and generates 70 Nm torque, beating most of the competition for acceleration and climbing ability. The 608Wh battery will give you up to 55 miles of range, its step-through design is 20% lower than the competition, and when you’re done zipping around town or commuting, you can pop it into a car trunk or even a closet.

Plus, the Fold 1 is compatible with a wide range of cool accessories so you can customize it to meet your needs.

Fold 1 – Save up to $350

Velotric T1 ST Plus Ebike

The Velotric T1 ST Plus Ebike is an ultra-compact, 39-pound city-and-gravel bike that’s designed for riders with an active lifestyle. But don’t be fooled by its sleek look because it’s very well-equipped: The five pedal-assist-level T1 ST has a 70-mile range and three riding modes, and the peak 600W motor generates 40Nm of torque. It also comes with Apple Find My integration.

T1 ST Plus – Save up to $400

Velotric Discover 1 Plus Ebike

The Velotric Discover 1 Plus Ebike is a fantastic commuter bike that’s designed for comfort. (Plus, it’s kinda fun that it comes in five color choices.) If your commuting route is a bit more challenging, then the Discover 1 Plus might be the right fit for you. It features a rear light with braking high-beam, a 60 Lux front light, and double hydraulic disc brakes for extra safety. Plus, Velotric rigorously tests its frames 150,000 times under tough conditions for quality assurance.

This commuter e-bike that rides like a cruiser has a pedal assist range of 65 miles and throttle range of 58 miles on a 900W peak motor that generates 65 Nm of torque.

Discover 1 Plus – Save up to $550

Velotric Go 1 Ebike

Velotric’s Go 1 Ebike is small but mighty – it can carry up to 440 pounds comfortably. This ride has hydraulic suspension and a plush saddle, and it can be kitted out with a wide range of accessories, making it a versatile form of transport for everything from a fun day out to carting groceries across town.

It’s powered by Velotric’s proprietary Velopower H50 Drive System, which provides a range of up to 55 miles on pedal assist up to 25 mph (unlocked) with a peak 900W motor.

Go 1 – Save up to $400*

Regular price: $1,399 ~~$1,699~~
Promotion: Get $100 off total saving $400
Discounted price: $1,299
Get 3 accessories & unlock 30% off on selected accessories

*Not included in the early-bird Black Friday deal, this deal runs from November 8-28 only

Velotric Packer 1 Ebike

From kids to cargo, the Velotric Packer 1 Ebike was designed to haul it all! The Packer 1 features Velotric’s proprietary Velopower H75 Drive System, which provides a range of up to 52 miles on pedal assist up to 25 mph (unlocked) with a 750W motor.

It can carry up to 440 pounds and has a 176-pound rear cargo carry capacity, plus hydraulic suspension with 80 mm of travel for a smooth ride. If you’re running a child to school every day, this would be a fantastic choice. Be sure to check out all the great accessories.

Packer 1 – Save up to $600