Dear clients,
On March 1, Tesla Investor Day was held, where Elon Musk promised to reveal the details of his master plan for the development of the company and the industry.
Tesla Inc will halve the cost of assembling future-generation cars, engineers told investors on Wednesday.
More than a dozen Tesla executives discussed everything from the official plan for the globe to implement sustainable energy to the company’s innovations in managing its operations from manufacturing to service.
But there have been no details on when the next generation cars will be launched or what models will be offered. The next investment step will be a new Tesla plant in northern Mexico, Musk said, announcing the first plant outside the US, Germany and China.
The announcement of an affordable EV model, so expected by the market, also did not take place. Musk however commented that the key to boosting Tesla sales would be lower prices for consumers, adding that Tesla discounts offered this year have spurred demand.
“The desire of people to own Tesla is extremely high. The limiting factor is their ability to pay for Tesla,” Musk says.
In the after hours following the presentation, the stock fell more than 5%.
In recent years, Tesla has outperformed the industry by rapidly ramping up deliveries despite the pandemic and supply chain disruptions. However, Tesla has cut prices in recent months to boost sales, which have been pressured by a weak economy and growing threats from competitors in the US and China.
