Tesla’s Investor Day 2023 had been highly anticipated, with shareholders expecting details about Project Highland and the Next Generation Platform. However, the event turned out to be an unusual four-hour-long affair, with CEO Elon Musk only making occasional appearances and the lack of concrete product-based news causing share prices to drop by $44 billion.
Despite this disappointment, the event showcased Tesla’s bold plans for a sustainable future, with Musk presenting the Master Plan 3, which looks beyond cars and sees direct electrification as fundamental to decarbonization. Musk believes that a sustainable electrified future is “within reach” and would only require a $10 trillion manufacturing investment – a mere 10% of the 2022 global GDP.
The presentation also discussed the Next Generation Platform, which would include 75% less silicon carbide, support any battery chemistry, and further manufacturing synergies enabling a 50% reduction in factory footprint. The platform will also be the foundation enabling the $25,000 Tesla, which was hinted at the end of the presentation.
Tesla’s fifth Gigafactory will be in Mexico, near Monterey, and would involve a $5 billion investment to be the world’s biggest EV manufacturing plant. While there were no further details on this, the announcement is reassuring given the current trend in global politics.
Tesla’s Investor Day 2023 was not without its choice tidbits, including video footage of recent Optimus humanoid robot designs building each-other and a dry electrode production system that drastically reduces the factory footprint for the 4680 cells.
While shareholders may have been disappointed in the lack of immediate concrete product-based news, Tesla’s Investor Day 2023 showcased the company’s continued commitment to decarbonization and a sustainable future.