Last Tuesday, the Mexican authorities anticipated that Tesla will set up a factory in the state of New Lion. This would be the company’s first factory outside of USA, Germany y China. The gigafactory would have an investment that could exceed 5,000 million dollars and a production of close to one million vehicles per year is projected, to supply the national and international market.
In this context, the official announcement by the Elon Muskwho had anticipated that the new Mexican plant is part of its plans to increase its production to 20 million units by 2030. However, its “Master Plan 3“doesn’t seem to have enthused investors.
Within the framework of investor day, the magnate owner and executive director of Tesla, together with more than 12 members of his team, presented for almost 4 hours the plans to cut costs in half assembly, invest in a new plant in Mexico and the new innovation scheme for the management of its operations. The truth is that before the market opened last Thursday, and hours after the presentation, the company’s shares fell 6%.
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An announcement that disappointed investors
Certainly the presentation that kept the main investors in suspense during the last days was not convincing enough. According to sources in the sector, investors expected an affordable electric vehicle and a plan with a concrete calendar. Quite the opposite of expectations, the announcement lacked details about the schedule and new products from Tesla.
This is how they made it known with their comments: “The markets were prepared for a big announcement, perhaps about something like a new, more affordable model,” he said. Russ Mouldinvestment director of AJ Bell. “It may have been a case of not living up to expectations,” she added. For her part, Colin Langananalyst of Wells Fargo said that “schedule and cost details were limited and the event lacked a Tesla-style surprise.”
They expected the announcement of a new car but Musk talked about something else
Contrary to the expectation generated by the owner of Tesla himself, the megamillionaire He spoke little of what was promised. To the surprise of those present, in an act for the investor day, unveiled his plan to eliminate fossil fuels from the economy. Specifically, the announcement and details related to the manufacture of a new model of its electric car were expected, with a smaller and more accessible size that would be an incentive and improve the attractiveness of the brand in the market in the face of growing competition.
What they received was a presentation from the same Tesla headquarters, in Texas, in which Musk displayed a slide that showed, high above and without details, two future vehicle models without giving further details.
In this sense, the executives in charge of the presentation spoke ambiguously about certain vehicle models, stating that the truck Cybertruck it will enter the market in 2023. In turn, they stressed that Tesla will seek to reduce the assembly costs of the next generation of cars by 50%.
For his part, Musk showed a graph of the projection of Tesla’s future electric fleet. On the slide were seen the models that are already in the factory fleet, including the truck Semi, and a market projection of 440 million vehicles. It also showed a future covered model of the Cybertruck as part of a 300 million vehicle market.
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Musk’s real plans
But the reality is that among the millionaire’s plans, his main objective is to achieve “decarbonize” the global power grid, including industry, maritime and air transport. According to company estimates, this transformation could cost 10 billion dollars, of which 7 billion would be the cost of the electric vehicles.
Another concern of Musk focuses on being able to capture the mass market and for this Tesla will have to multiply deliveries by 15, that is, reach up to 20 million vehicles in 2030. Which will in turn imply improving its battery technology. In fact, Musk has stated on several occasions that this is a “fundamental limiting factor” in achieving the transition towards sustainable energy.
It should be remembered that in 2020 Musk announced his intention to develop batteries internally, which would make it possible to enter the market in 2023 self-driving electric cars at a value of USD 25,000. However, Tesla reported problems increasing production from 4680 batteries.
Anyway, without a doubt, the billionaire owner of the most valuable automobile company in the world, seeks to penetrate the mass market and turn Tesla into a company that not only manufactures modern electric cars, but also incorporates an environmentally friendly production process. .
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Stocks drop sharply on Wall Street
True to his style, Musk imposed his agenda and interests, spoke of Tesla’s “Master Plan 3” for a “sustainable energy future”. But his rebellion cost him the negative impact on the stock market and the company’s shares in Wall Street they fell sharply in after-hours trading.
A more concrete announcement was expected, but the announcement was limited to explaining why the new platform is revolutionary, which is why it could give birth to Tesla’s innovative and affordable electric car. The truth is that about the new “self cheated” from Tesla, no great details were known and they only commented that “it will be a later announcement”.
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