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Elon Musk would present a cheaper electric vehicle and a new “Master Plan” for Tesla

Elon Musk would present a cheaper electric vehicle and a new “Master Plan” for Tesla

It is expected that Elon MuskCEO of Tesla Inc.present a plan to build a smaller, more affordable electric vehicle on Wednesday afternoon, with the goal of broadening its brand appeal and fending off competition.

Capturing the mass market is essential to Tesla’s goal of multiplying deliveries 15-fold -up to 20 million vehicles- by 2030. To do this, Tesla will have to improve its battery technology, which Musk has described as “fundamental limiting factor. so it’s a likely topic of his Wednesday speech.

Musk could also outline plans to update the company’s best-selling vehicles, after Reuters revealed his plan. “Project Jupiter” to revamp your Model Y SUV.

The Investor Day event will be webcast from Tesla’s Texas factory and is scheduled to begin at 2100 GMT.

Musk is also scheduled to announce the “Master Plan 3″ of the company for a “sustainable energy future”. The previous two – the most recent in 2016 – announced new models.

Tesla has become by far the most valuable car company in the world, and its billionaire CEO aims to penetrate the mass market and turn the electric vehicle maker into a firm capable of creating a more climate-friendly world.

Tesla has outperformed the industry in recent years, rapidly ramping up deliveries despite the pandemic and supply chain disruptions.

However, the company has cut prices in recent months to boost sales, pressured by the weak economy and growing threats from rivals in the United States and China.

The automaker only has four models, all of which are high-priced.

On Tuesday, Mexican authorities announced that Tesla would build a factory in the northern state of Nuevo León. It would be the company’s first outside the United States, Germany and China, and Musk is expected to provide more details on Wednesday.

Source: Reuters

Source: Gestion

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