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Tesla (TSLA) Investor Day: Cruxes From Master Plan Part 3
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Tesla (TSLA - Free Report) , on its first ever Investor Day, revealed the third part of its Master Plan, which focuses on making a complete shift toward a greener future. CEO Elon Musk sets forth his intent on powering the existing gridlines with renewable energy and producing up to 20 million cars per year over the course of the next few years.
For domestic heating, Tesla plans to use heat pumps, which consume one-third of the total energy consumed by fossil fuels and use green hydrogen as a substitute of coal to fuel furnaces used in steel production. The EV pioneer eventually wants to fuel planes and boats through electrification using structural batteries.
The entire project will require a total of $10 trillion in investment, which according to Musk is “not a big number relative to global economy.” Musk said, “There is a clear path to a sustainable energy on Earth. It doesn’t require destroying natural habitats. It doesn’t require us to be austere and stop using electricity and sort of be in the cold or anything.”
The world’s total storage capacity needs to get expanded by 240 TWh to achieve a fully sustainable earth. The plan will require 30% of Earth’s nickel, less than 0.2% of Earth’s surface for infrastructure needed to execute the plan and possibly a massive amount of iron, which is available in abundance.
Elon Musk also discussed their new gigafactory that will be built in Monterrey, Mexico and help the company reach its target of manufacturing 20 million vehicles per year. Further, Tesla has devised a more efficient way, called the “Unboxed Process,” to manufacture its next-generation vehicles.
While Tesla successfully checked almost all the boxes included in its first master plan, it missed a lot of them in its second. With the Part Deux plan posed in 2016, the company’s vision of creating a thriving solar business suffered a massive blow due to an unreasonably high price. Tesla displayed a production prototype of the Cybertruck (also a part of Part Deux plan), for which deliveries are planned to start this year.
Tesla’s Cybertruck is set to face tough competition from Ford’s (F - Free Report) F-150 Lightning and General Motors’ (GM - Free Report) GMC Hummer e-truck.
Ford’s F-series has been the best-selling truck in the United States for more than four decades and its electric version, the F-150 Lightning Pro, is carrying forward the success, pivoting Ford for a notable transition in the electric space. The all-electric F-150 e-pickup hit the market in spring 2022.
The first deliveries of General Motors’ Hummer EV pickup began in December 2021 and it was the first model to include next-generation battery cells and a platform known as Ultium. General Motors is working on two other pickup models — Chevy Silverado and GMC Sierra e-trucks.
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Tesla (TSLA) Investor Day: Cruxes From Master Plan Part 3
Tesla (TSLA - Free Report) , on its first ever Investor Day, revealed the third part of its Master Plan, which focuses on making a complete shift toward a greener future. CEO Elon Musk sets forth his intent on powering the existing gridlines with renewable energy and producing up to 20 million cars per year over the course of the next few years.
For domestic heating, Tesla plans to use heat pumps, which consume one-third of the total energy consumed by fossil fuels and use green hydrogen as a substitute of coal to fuel furnaces used in steel production. The EV pioneer eventually wants to fuel planes and boats through electrification using structural batteries.
The entire project will require a total of $10 trillion in investment, which according to Musk is “not a big number relative to global economy.” Musk said, “There is a clear path to a sustainable energy on Earth. It doesn’t require destroying natural habitats. It doesn’t require us to be austere and stop using electricity and sort of be in the cold or anything.”
The world’s total storage capacity needs to get expanded by 240 TWh to achieve a fully sustainable earth. The plan will require 30% of Earth’s nickel, less than 0.2% of Earth’s surface for infrastructure needed to execute the plan and possibly a massive amount of iron, which is available in abundance.
Elon Musk also discussed their new gigafactory that will be built in Monterrey, Mexico and help the company reach its target of manufacturing 20 million vehicles per year. Further, Tesla has devised a more efficient way, called the “Unboxed Process,” to manufacture its next-generation vehicles.
While Tesla successfully checked almost all the boxes included in its first master plan, it missed a lot of them in its second. With the Part Deux plan posed in 2016, the company’s vision of creating a thriving solar business suffered a massive blow due to an unreasonably high price. Tesla displayed a production prototype of the Cybertruck (also a part of Part Deux plan), for which deliveries are planned to start this year.
Tesla’s Cybertruck is set to face tough competition from Ford’s (F - Free Report) F-150 Lightning and General Motors’ (GM - Free Report) GMC Hummer e-truck.
Ford’s F-series has been the best-selling truck in the United States for more than four decades and its electric version, the F-150 Lightning Pro, is carrying forward the success, pivoting Ford for a notable transition in the electric space. The all-electric F-150 e-pickup hit the market in spring 2022.
The first deliveries of General Motors’ Hummer EV pickup began in December 2021 and it was the first model to include next-generation battery cells and a platform known as Ultium. General Motors is working on two other pickup models — Chevy Silverado and GMC Sierra e-trucks.