‘Master Plan Part 3’ Teaser

Tesla CEO Elon Musk poses for a photo in Austin, Texas on April 7, 2022. Electric vehicle companies have also ventured into battery storage.

Suzanne Cordeiro | AFP | Good pictures

Electric vehicle maker Tesla is scheduled to hold an investor day presentation on Wednesday in Austin, Texas at 3:00 p.m. local time. CEO Elon Musk promised to share his “Master Plan 3” and discuss how Tesla plans to face the increasing competition.

Musk wrote in a Tweet On February 7, 2023, “Master Plan 3, a path to a fully sustainable energy future for Earth will be delivered on March 1. The future is bright!”

His ambitious master plan Two hands Released in 2016 and not fully implemented. It covers four main objectives:

  • “Create stunning solar roofs with seamlessly integrated battery storage”
  • “Expand electric vehicle product line to address all key segments”
  • “Develop self-driving skills that are 10 times safer than manual with massive fleet learning”
  • “Drive your car to make money for yourself when you’re not using it”

On Twitter, Tesla announced Its presentation will be available live to stakeholders Network lightThe company traditionally streamed its events, but also on Twitter.

Musk acquired the San Francisco-based social media company for $44 billion in October 2022, selling about $23 billion worth of his Tesla stock to finance the deal. He may reveal more details about how the two plan to work together.

As CNBC previously reported, Musk has numerous deals with Tesla, SpaceX and Boring Co. He has authorized executives and engineers to work for him on Twitter.

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Mexican President Andres Manuel Lopez Obrador said at a press conference on Tuesday ahead of the 2023 Investor Day that Tesla had agreed to build a large factory in Monterrey, Mexico. He also said Tesla agreed to use recycled water and take other initiatives to deal with water shortages in the region.

The company is expected to reveal more about this and its other facilities, including its Shanghai plant and new factories outside Austin, Texas and Berlin.

Investors are wondering when Tesla will deliver a new, more expensive electric vehicle and when the company will deliver on its long-held promise of driverless technology.

In 2020, at Tesla’s Battery Day event, Musk teased the possibility of both: “In about three years, we believe we can build a $25,000 electric vehicle that’s fully autonomous.”

Musk has been promising a true self-driving car since 2016. While the company has yet to complete cross-country, a driverless demo Musk later said would be possible by the end of 2017.

In February, federal auto safety regulators in the US and Tesla announced a voluntary recall of 362,758 vehicles. In a safety reminder Notice, Tesla and the National Highway Traffic Safety Administration warned that the driver assistance software, marketed as fully self-driving beta, could cause Tesla vehicles to violate traffic laws and cause accidents. (The company plans to offer a fix through an over-the-air software update.)

Despite the company’s delays in driverless technology, Tesla shares have rebounded from a slump during 2022 and are up more than 60% year-to-date.

According to Ortex, a short interest tracker, “TSLA’s 19% rally in February helped TSLA bears pile up losses after giving short sellers a $4.5 billion gain in January. According to ORTEX estimates, TSLA shorts posted losses of $3 billion in February. The largest short loss of the month by a meaningful margin (# NVDA with a $1.5 billion loss for 2 shorts).”

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Mizuho Securities analysts maintained a buy rating on Tesla’s stock ahead of Investor Day, seeing Tesla in a leadership position in the growing market for fully electric vehicles. In a note they wrote earlier this week, they said, “In the near term, we see continued strength in TSLA’s market share, but we also see cheaper competitor EVs coming to market that have the potential to erode TSLA’s share of the US EV market.”

Currently, the cheapest available is the Tesla Model 3 sedan, which starts at around $43,000, they wrote. Seven models from other automakers currently cost less than that, Mizhuo noted.

Connagard Genie analysts conducted a survey to see what Tesla’s audience expected during Wednesday’s investor day presentation. Much is expected about the “next-generation vehicle platform” and details about Tesla’s mining plans, as well as an update on Tesla’s long-term vehicle volume forecast through 2030.

This story is developing, check back for updates.

— CNBC’s Michael Bloom contributed to this report.

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