Tesla will unveil its “Master Plan Part 3” at “Investor Day” on March 1
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.
FTC: We use income earning auto affiliate links. More.
Wind energy powered 20% of all electricity consumed in Europe (19% in the EU) in 2024, and the EU has set a goal to grow this share to 34% by 2030 and more than 50% by 2050.
To stay on track, the EU needs to install 30 GW of new wind farms annually, but it only managed 13 GW in 2024 – 11.4 GW onshore and 1.4 GW offshore. This is what’s holding the EU back from achieving its wind growth goals.
Three big problems holding Europe’s wind power back
Europe’s wind power growth is stalling for three key reasons:
Permitting delays. Many governments haven’t implemented the EU’s new permitting rules, making it harder for projects to move forward.
Grid connection bottlenecks. Over 500 GW(!) of potential wind capacity is stuck in grid connection queues.
Slow electrification. Europe’s economy isn’t electrifying fast enough to drive demand for more renewable energy.
Brussels-based trade association WindEurope CEO Giles Dickson summed it up: “The EU must urgently tackle all three problems. More wind means cheaper power, which means increased competitiveness.”
Permitting: Germany sets the standard
Permitting remains a massive roadblock, despite new EU rules aimed at streamlining the process. In fact, the situation worsened in 2024 in many countries. The bright spot? Germany. By embracing the EU’s permitting rules — with measures like binding deadlines and treating wind energy as a public interest priority — Germany approved a record 15 GW of new onshore wind in 2024. That’s seven times more than five years ago.
If other governments follow Germany’s lead, Europe could unlock the full potential of wind energy and bolster energy security.
Grid connections: a growing crisis
Access to the electricity grid is now the biggest obstacle to deploying wind energy. And it’s not just about long queues — Europe’s grid infrastructure isn’t expanding fast enough to keep up with demand. A glaring example is Germany’s 900-megawatt (MW) Borkum Riffgrund 3 offshore wind farm. The turbines are ready to go, but the grid connection won’t be in place until 2026.
This issue isn’t isolated. Governments need to accelerate grid expansion if they’re serious about meeting renewable energy targets.
Electrification: falling behind
Wind energy’s growth is also tied to how quickly Europe electrifies its economy. Right now, electricity accounts for just 23% of the EU’s total energy consumption. That needs to jump to 61% by 2050 to align with climate goals. However, electrification efforts in key sectors like transportation, heating, and industry are moving too slowly.
European Commission president Ursula von der Leyen has tasked Energy Commissioner Dan Jørgensen with crafting an Electrification Action Plan. That can’t come soon enough.
More wind farms awarded, but challenges persist
On a positive note, governments across Europe awarded a record 37 GW of new wind capacity (29 GW in the EU) in 2024. But without faster permitting, better grid connections, and increased electrification, these awards won’t translate into the clean energy-producing wind farms Europe desperately needs.
Investments and corporate interest
Investments in wind energy totaled €31 billion in 2024, financing 19 GW of new capacity. While onshore wind investments remained strong at €24 billion, offshore wind funding saw a dip. Final investment decisions for offshore projects remain challenging due to slow permitting and grid delays.
Corporate consumers continue to show strong interest in wind energy. Half of all electricity contracted under Power Purchase Agreements (PPAs) in 2024 was wind. Dedicated wind PPAs were 4 GW out of a total of 12 GW of renewable PPAs.
Read more: Renewables could meet almost half of global electricity demand by 2030 – IEA
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*
FTC: We use income earning auto affiliate links. More.
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the official unveiling of the new Tesla Model Y, Mazda 6e, Aptera solar car production-intent, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.
Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):
FTC: We use income earning auto affiliate links. More.
The Chinese EV leader is launching a new flagship electric sedan. BYD’s new Han L EV leaked in China on Friday, revealing a potential Tesla Model S Plaid challenger.
What we know about the BYD Han L EV so far
We knew it was coming soon after BYD teased the Han L on social media a few days ago. Now, we are learning more about what to expect.
BYD’s new electric sedan appeared in China’s latest Ministry of Industry and Information Tech (MIIT) filing, a catalog of new vehicles that will soon be sold.
The filing revealed four versions, including two EV and two PHEV models. The Han L EV will be available in single- and dual-motor configurations. With a peak power of 580 kW (777 hp), the single-motor model packs more power than expected.
BYD’s dual-motor Han L gains an additional 230 kW (308 hp) front-mounted motor. As CnEVPost pointed out, the vehicle’s back has a “2.7S” badge, which suggests a 0 to 100 km/h (0 to 62 mph) sprint time of just 2.7 seconds.
To put that into perspective, the Tesla Model S Plaid can accelerate from 0 to 100 km in 2.1 seconds. In China, the Model S Plaid starts at RBM 814,900, or over $110,000. Speaking of Tesla, the EV leader just unveiled its highly anticipated Model Y “Juniper” refresh in China on Thursday. It starts at RMB 263,500 ($36,000).
BYD already sells the Han EV in China, starting at around RMB 200,000. However, the single front motor, with a peak power of 180 kW, is much less potent than the “L” model. The Han EV can accelerate from 0 to 100 km/h in 7.9 seconds.
At 5,050 mm long, 1,960 mm wide, and 1,505 mm tall with a wheelbase of 2,970 mm, BYD’s new Han L is roughly the size of the Model Y (4,970 mm long, 1,964 mm wide, 1,445 mm tall, wheelbase of 2,960 mm).
Other than that it will use a lithium iron phosphate (LFP) pack from BYD’s FinDreams unit, no other battery specs were revealed. Check back soon for the full rundown.
Source: CnEVPost, China MIIT
FTC: We use income earning auto affiliate links. More.
-
Sports2 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports9 months agoStory injured on diving stop, exits Red Sox game
-
Sports1 year agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports3 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business2 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway