Tesla’s Master Plan: Elon Musk Vows to Make EVs More Affordable

Tesla CEO Elon Musk has revealed a new “Master Plan” to reduce the cost of electric vehicle (EV) production in order to make them more affordable. The plan, which was announced during Tesla’s Investor Day, is being kept under wraps for now, but Musk has promised to halve the production cost of EVs.

The plan was met with mixed reactions from investors, with Tesla’s stock falling more than 5% after hours. Analysts and investors were hoping for more specifics, such as a timeline and details of the cost-reduction strategy.

Musk’s original “Master Plan” from 2006, which focused on developing a range of affordable cars, has been largely successful. However, the new plan has been met with skepticism by some, who argue that Musk should stick to cars and not venture into other areas such as solar energy and autonomous driving.

Tesla’s Investor Day was also criticized for lacking details on how the company plans to reduce costs and make EVs more affordable. Bloomberg’s analysis of the plan concluded that it fell flat without a low-cost new car.

Overall, Musk’s new “Master Plan” has been met with a mix of optimism and skepticism. While the plan could reduce the cost of EV production and make them more accessible, the specifics of the plan remain under wraps and investors are hoping for more details.