Tesla 'Master Plan 3' to be unveiled by Elon Musk at first investor day

The billionaire presented his plans for the electric car manufacturer in 2006 and 2016, but the majority of them have not been carried out. Musk tweeted on Wednesday, "Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1."

Musk stated that the third section of his Master Plan was "going to fundamentally be about scaling" both car production and the supply chain that supports it, such as battery materials and components, at Tesla's annual shareholder meeting in August.

Musk has stated that Tesla's next-generation vehicle platforms, which Musk has stated would produce a vehicle approximately half the cost of Tesla's current vehicle underpinnings, will be shared with investors at the upcoming investor day that will be held at its gigafactory in Texas. Additionally, Tesla stated that it will discuss capital allocation, long-term expansion plans, and other topics.

As Musk sold Tesla shares to fund his purchase of Twitter and as other shareholders lost faith in his focus on the automaker, whose sales growth was not as much as some investors had hoped, Tesla shares experienced their worst annual performance.

Musk unveiled "a secret mast plan" in 2006, which included a low-cost electric vehicle; however, the lowest-priced Tesla model costs $43,490 in the United States.

In 2016, Musk unveiled his "Master Plan, Part Deux," a four-point strategy that calls for achieving "true self-driving" and expanding Tesla's electric vehicle lineup to all major market segments. The company's Cybertruck pickup trucks have been delayed until 2023, while its semi-heavy duty electric trucks have begun "pilot production" last year.

Musk stated that Tesla drivers would be able to sleep, read, or do anything else while traveling to their destination as part of that plan from 2016 and earn money by renting out their autonomous vehicles when not in use. However, after failing to meet his goals for self-driving vehicle capability, Musk stated in October of the previous year that Tesla's automobiles are not yet ready for autonomous driving.