Electric vehicle maker Tesla is set to host an Investor Day presentation at 3:00 local time in Austin, Texas, on Wednesday. CEO Elon Musk promised to share his “Master Plan 3,” and to discuss how Tesla plans to scale up in the face of increasing competition.
Musk wrote in a tweet on Feb. 7, 2023, “Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1. The future is bright!”
His ambitious Master Plan Part Deux was published in 2016, and has not been completely fulfilled. It included four main objectives:
“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”
On Twitter, Tesla notified shareholders that its presentation will be available live on YouTube, where the company has traditionally streamed its events, but also on Twitter itself.
Musk acquired the San Francisco-based social media company for around $44 billion in October 2022, selling around $23 billion worth of his Tesla shares in part to finance the deal. He may reveal more details about how the two plan to work together moving forward.
As CNBC previously reported, Musk has authorized a myriad of Tesla, SpaceX and Boring Co. execs and engineers to work for him at Twitter.
Ahead of the 2023 Investor Day, at a press conference on Tuesday, Mexico president Andres Manuel Lopez Obrador said Tesla had agreed to build a large factory in Monterrey, Mexico. He said Tesla agreed to use recycled water and take other initiatives to cope with water-scarcity in the region.
The company is expected to reveal more about this and its other facilities, including its Shanghai plant, and the newer factories in Austin, Texas and outside of Berlin.
Investors are wondering whether and when Tesla will finally deliver a new, more affordable electric vehicle, and when the company may finally fulfill its longstanding promise of driverless technology.
In 2020, at a Tesla Battery Day event, Musk teased the possibility of both, saying: “About three years from now, we’re confident we can make a very compelling $25,000 electric vehicle that’s also fully autonomous.”
Musk has been promising a truly self-driving car since 2016. The company still has not completed the cross-country, driverless demo Musk then said would be possible by the end of 2017.
In February, the federal vehicle safety regulators in the US and Tesla announced a voluntary recall of 362,758 vehicles. In a safety recall notice, Tesla and the National Highway Traffic Safety Administration warned that the driver-assistance software, marketed as Full Self-Driving Beta, may cause Tesla vehicles to disobey traffic laws and could cause crashes. (The company plans to deliver a fix via an over-the-air software update.)
Despite the company’s delays on driverless tech, Tesla shares have rebounded from declines during 2022, and are up more than 60% for the year so far.
According to Ortex, a short interest tracker, “After delivering $4.5 billion in profits to short sellers in January, TSLA’s 19% rise in February has helped pile on losses for TSLA bears. ORTEX estimates that TSLA shorts incurred $3 billion in losses for February, the biggest short loss of the month by a meaningful margin (#2 was NVDA with a $1.5 billion loss for shorts).”
Mizuho Securities analysts maintained a buy rating on shares of Tesla ahead of Investor Day, seeing Tesla in a leadership position in a growing market for fully electric vehicles. They wrote, in a note earlier this week, “Near-term, we see continued strength in TSLA’s market share, but see cheaper competitor EVs coming to market as potentially dilutive to TSLA’s share of the US EV market.”
Currently, the lowest-priced Tesla available is the Model 3 sedan, which starts at a price point of around $43,000, they wrote. Seven models from other automakers are currently priced below that, Mizhuo noted.
Cannacord Genuity analysts ran a survey asking what Tesla watchers predict will be discussed during the Investor Day presentation on Wednesday. Most expected to hear about a “next-Gen vehicle platform,” as well as details on Tesla’s mining plans, and an update to Tesla’s longer-term vehicle volume forecast through 2030.
This story is developing, please check back for updates.
— CNBC’s Michael Bloom contributed to this report.
Elon Musk looks on as U.S. President Donald Trump meets South African President Cyril Ramaphosa in the Oval Office of the White House in Washington, D.C., U.S., May 21, 2025.
Kevin Lamarque | Reuters
The Elon Musk-owned social media platform X experienced a brief outage on Saturday morning, with tens of thousands of users reportedly unable to use the site.
About 25,000 users reported issues with the platform, according to the analytics platform Downdetector, which gathers data from users to monitor issues with various platforms.
Roughly 21,000 users reported issues just after 8:30 a.m. ET, per the analytics platform.
The issues appeared to be largely resolved by around 9:55 a.m., when about 2,000 users were reporting issues with the platform.
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X did not immediately respond to CNBC’s request for comment. Additional information on the outage was not available.
Musk, the billionaire owner of SpaceX and Tesla, acquired X, formerly known as Twitter in 2022.
The site has had a number of widespread outages since the acquisition.
Artificial intelligence robot looking at futuristic digital data display.
Yuichiro Chino | Moment | Getty Images
Businesses are turning to artificial intelligence tools to help them navigate real-world turbulence in global trade.
Several tech firms told CNBC say they’re deploying the nascent technology to visualize businesses’ global supply chains — from the materials that are used to form products, to where those goods are being shipped from — and understand how they’re affected by U.S. President Donald Trump’s reciprocal tariffs.
Last week, Salesforce said it had developed a new import specialist AI agent that can “instantly process changes for all 20,000 product categories in the U.S. customs system and then take action on them” as needed, to help navigate changes to tariff systems.
Engineers at the U.S. software giant used the Harmonized Tariff Schedule, a 4,400-page document of tariffs on goods imported to the U.S., to inform answers generated by the agent.
“The sheer pace and complexity of global tariff changes make it nearly impossible for most businesses to keep up manually,” Eric Loeb, executive vice president of government affairs at Salesforce, told CNBC. “In the past, companies might have relied on small teams of in-house experts to keep pace.”
Firms say that AI systems are enabling them to take decisions on adjustments to their global supply chains much faster.
Andrew Bell, chief product officer of supply chain management software firm Kinaxis, said that manufacturers and distributors looking to inform their response to tariffs are using his firm’s machine learning technology to assess their products and the materials that go into them, as well as external signals like news articles and macroeconomic data.
“With that information, we can start doing some of those simulations of, here is a particular part that is in your build material that has a significant tariff. If you switched to using this other part instead, what would the impact be overall?” Bell told CNBC.
‘AI’s moment to shine’
Trump’s tariffs list — which covers dozens of countries — has forced companies to rethink their supply chains and pricing, with the likes of Walmart and Nikealready raising prices on some products. The U.S. imported about $3.3 trillion of goods in 2024, according to census data.
Uncertainty from the U.S. tariff measures “actually probably presents AI’s moment to shine,” Zack Kass, a futurist and former head of OpenAI’s go-to-market strategy, told CNBC’s Silvia Amaro at the Ambrosetti Forum in Italy last month.
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“If you wonder how hard things could get without AI vis-a-vis automation, and what would happen in a world where you can’t just employ a bunch of people overnight, AI presents this alternative proposal,” he added.
Nagendra Bandaru, managing partner and global head of technology services at Indian IT giant Wipro, said clients are using the company’s agentic AI solutions “to pivot supplier strategies, adjust trade lanes, and manage duty exposure dynamically as policy landscapes evolve.”
Wipro says it uses a range of AI systems — both proprietary and supplied by third parties — from large language models to traditional machine learning and computer vision techniques to inspect physical assets in cross-border transit.
‘Not a silver bullet’
While it preferred to keep company names confidential, Wipro said that firms using its AI products to navigate Trump’s tariffs range from a Fortune 500 electronics manufacturer with factories in Asia to an automotive parts supplier exporting to Europe and North America.
“AI is a powerful enabler — but not a silver bullet,” Bandaru told CNBC. “It doesn’t replace trade policy strategy, it enhances it by transforming global trade from a reactive challenge into a proactive, data-driven advantage.”
AI was already a key investment priority for global firms prior to Trump’s sweeping tariff announcements on April. Nearly three-quarters of business leaders ranked AI and generative AI in their top three technologies for investment in 2025, according to a report by Capgemini published in January.
“There are a number of ways AI can assist companies dealing with the tariffs and resulting uncertainty. But any AI solution’s success will be predicated on the quality of the data it has access to,” Ajay Agarwal, partner at Bain Capital Ventures, told CNBC.
The venture capitalist said that one of his portfolio companies, FourKites, uses supply chain network data with AI to help firms understand the logistics impacts of adjusting suppliers due to tariffs.
“They are working with a number of Fortune 500 companies to leverage their agents for freight and ocean to provide this level of visibility and intelligence,” Agarwal said.
“Switching suppliers may reduce tariffs costs, but might increase lead times and transportation costs,” he added. “In addition, the volatility of the tariffs [has] severely impacted the rates and capacity available in both the ocean and the domestic freight networks.”
A Zoox autonomous robotaxi in San Francisco, California, US, on Wednesday, Dec. 4, 2024.
David Paul Morris | Bloomberg | Getty Images
Amazon‘s Zoox robotaxi unit issued a voluntary recall of its software for the second time in a month following a recent crash in San Francisco.
On May 8, an unoccupied Zoox robotaxi was turning at low speed when it was struck by an electric scooter rider after braking to yield at an intersection. The person on the scooter declined medical attention after sustaining minor injuries as a result of the collision, Zoox said.
“The Zoox vehicle was stopped at the time of contact,” the company said in a blog post. “The e-scooterist fell to the ground directly next to the vehicle. The robotaxi then began to move and stopped after completing the turn, but did not make further contact with the e-scooterist.”
Zoox said it submitted a voluntary software recall report to the National Highway Traffic Safety Administration on Thursday.
A Zoox spokesperson said the notice should be published on the NHTSA website early next week. The recall affected 270 vehicles, the spokesperson said.
The NHTSA said in a statement it had received the recall notice and that the agency “advises road users to be cautious in the vicinity of vehicles because drivers may incorrectly predict the travel path of a cyclist or scooter rider or come to an unexpected stop.”
If an autonomous vehicle continues to move after contact with any nearby vulnerable road user, it risks causing harm or further harm. In the AV industry, General Motors-backed Cruise exited the robotaxi business after a collision in which one of its vehicles injured a pedestrian who had been struck by a human-driven car and was then rolled over by the Cruise AV.
Zoox’s May incident comes roughly two weeks after the company announced a separate voluntary software recall following a recent Las Vegas crash. In that incident, an unoccupied Zoox robotaxi collided with a passenger vehicle, resulting in minor damage to both vehicles.
The company issued a software recall for 270 of its robotaxis in order to address a defect with its automated driving system that could cause it to inaccurately predict the movement of another car, increasing the “risk of a crash.”
Amazon acquired Zoox in 2020 for more than $1 billion, announcing at the time that the deal would help bring the self-driving technology company’s “vision for autonomous ride-hailing to reality.”
While Zoox is in a testing and development stage with its AVs on public roads in the U.S., Alphabet’s Waymo is already operating commercial, driverless ride-hailing services in Phoenix, San Francisco, Los Angeles and Austin, Texas, and is ramping up in Atlanta.
Teslais promising it will launch its long-delayed robotaxis in Austin next month, and, if all goes well, plans to expand after that to San Francisco, Los Angeles and San Antonio, Texas.