Tesla’s upcoming Investor Day promises to be an exciting event. There are a few major topics slated to be discussed, including Tesla’s plans for solar and energy, the transition to Electric vehicles, and the Gen 3 platform. Let’s take a deeper look at what to expect from each of these topics.
Tesla’s energy business has seen tremendous growth, with CEO Elon Musk noting during the Q4 earnings call that it was growing faster than its automotive business. Tesla is targeting 1,000 GWh (or 1 Terrawatt) of production annually, with plans to build more MegaPack factories and ramp up production at GigaNevada. Musk has also promised updates on this front for 2021 and 2022.
In the automotive sector, Tesla is focused on transitioning the existing global auto fleet—estimated at 2 billion vehicles—to Electric. This move is estimated to reduce global emissions by 25%. To do this, Tesla will need to scale its vehicle production substantially, which is where the Gen 3 Platform comes in.
The Gen 3 Platform is specifically designed to reduce the cost of building each vehicle and make it possible for Tesla to sell cars for a profit at a $20-25K price point. Musk has said that the goal is to make two cars in the time and effort it takes to make one Model 3, and the goal is to produce more cars than all other competitors combined. The Investor Day invite background image may even be a sneak peek at the Gen 3 Platform.
Tesla’s plans for transitioning to Electric vehicles and powering the world with solar and energy will be discussed in greater detail at Investor Day. But it is already clear that Tesla has ambitious goals for the future and is well on its way to achieving them. With the Gen 3 Platform, Tesla could revolutionize the auto industry and help reduce global emissions. The future of energy and automotive is certainly an exciting one.
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