Elon Musk Just UNVEILED A New Powertrain For Tesla Cars!
Elon Musk Just UNVEILED A New Powertrain For Tesla Cars!
On March 1, Tesla hosted its first-ever Investor Day event at the Gigafactory in Austin, Texas. Elon Musk, the CEO of the company, has unveiled the third phase of his “Master Plan,” outlining strategies for how Tesla would cut production costs and expand to “extreme size.” And of course that includes a new powertrain that shocks the EV industry.
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During the four-hour Tesla Investor Day, Elon Musk, the CEO of Tesla, and other executives emphasized the company’s role in accelerating the transition of the world’s energy supply from fossil fuels to renewable sources. Investors, at least those who were active after the market closed, may not have been impressed because it didn’t include a major product announcement, precise information on the next step in its so-called master plan 3, or Elon Musk’s famous “one more thing” phrase.
Tesla stock dropped 5.66% after-hours trading.
Even while the subtext was that, of course, all roads lead to the future, the event was much more of a history lesson than a business forecast. Additionally, significant portions of the event were devoted to operational effectiveness and initiatives to save costs at practically every level of the business. (which normally investors like).
What wasn’t expressed may have been the most fascinating aspects. Musk and an exceptionally long lineup of department leads did not share new details on Tesla’s next-generation EV and its soon to come factory in Mexico nor did they deal with current issues with its Full Self-Driving software that is at the moment unavailable to those who decided to buy the $15,000 alternative due to a recall.
Nevertheless, the event produced some news and insights. Here is an overview of the important information.
20 million EVs a year by 2030
This is not Tesla’s first objective. However, a series of executives who took the stage to discuss everything from production and raw materials to design, charging, and batteries all made a sincere effort to support their position on how they would achieve that objective.
The current lineup of Tesla vehicles includes the Model S, Model X, Model Y, and Model 3 as well as the Tesla Semi, Cybertruck, and two veiled cars.
For a dose of reality, it’s worth considering the figure of 20 million vehicles annually. In 2022, Tesla produced 1,369,611 vehicles and delivered 1,313,851 of them. In 2017, 10.5 million vehicles were sold worldwide by Toyota, the market leader.
That implies that, if you do the math, Tesla would have to boost its manufacturing (and sales, mind you) by a factor of nearly 15 starting in 2022.
How does Tesla plan to accomplish this? In his words, there is no demand issue. (a phrase he has used repeatedly in the past). He claimed that creating the stuff is the difficult part. The solutions proposed by Tesla include vertical integration, expanding already-existing facilities and constructing new ones, improving the productivity of the manufacturing process, and introducing a few additional models. However, interestingly, not too many; Musk said maybe 10 models total.
Vertical integration and slashing costs
The relentless pursuit of vertical integration is a hallmark of Tesla. For example, it’s the only automobile manufacturer in recent memory to start producing its own seats.
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