Tesla's investor day brings hopes Elon Musk will reveal cheap cars, robotaxis, and a new Master Plan. Here's what people are watching for.
Hopes are building for big announcements from Elon Musk and Tesla at its investor day Wednesday.
Tesla is at an inflection point as it seeks to boost production on the back of a share price resurgence.
Master Plan 3, robotaxis, cheap EVs and solar power are thought to be high on Musk's list.
Investors are waiting with bated breath for Tesla's investor day Wednesday. And after a bruising 2022, CEO Elon Musk is expected to come out swinging with a wave of announcements and promises on the back of a 67% resurgence in the electric-vehicle maker's share price this year.
Here's what investors and analysts are expecting from the live-streamed event at Tesla's Gigafactory in Austin, Texas, where Musk says he'll deliver "a message of good hope & positivity for the future."
Master Plan 3
Musk is expected to unveil the strategy behind Master Plan 3, the third iteration of Elon Musk's vision for the company, following 2006's Master Plan and Part Deux in 2016.
Previous plans focused on the development of more vehicles, energy storage initiatives, and the so-far elusive prospect of fully autonomous driving.
"This next "Master Plan" from Musk will give further insight into the broader strategic roadmap looking ahead and lays the foundation for the next decade for Tesla with the green tidal wave hitting globally on the shift to EVs," Wedbush analyst Dan Ives wrote in a note.
Proposals could include Cybertruck and Semi Truck delivery updates, 4680 battery technology, lithium production, and a roadmap to a sub-$30,000 vehicle, Ives said.
Musk has been touting the idea of robotaxis — a fully autonomous vehicle — for some time, highlighting progress in platform design for the product in an earnings call in October last year.
Speaking on CNBC's "Squawk on the Street" on Monday, Ark Invest CEO and Tesla backer Cathie Wood said this would be a cornerstone of the Investor day.
"We're very interested in the news coming out of this March 1st day. We think it will be about robotaxis effectively," Wood said.
She suggested with tax credits and economies of scale, Musk would feasibly be able to cut the price of Teslas in half, making it difficult for competitors to keep up.
Tesla and Musk have a lofty goal: bringing to market an EV that's affordable for most US households.
Rumors are swirling that Musk could announce a Tesla costing $25,000, something which would make it one of the cheapest EVs on the market.
Musk last year cast doubt on the idea of a $25,000 Tesla being imminent, having promised it within three years in 2020. Recent price cuts though, and an expansion of its production capabilities, may have changed the billionaire's calculations.
The carmaker is planning a revamp of its top-selling Model Y, codenamed Project Jupiter, according to a Reuters report Wednesday. It's aiming to go into production of the crossover EV in 2024, it said, citing people with knowledge of the plan.
Tesla may also continue to build out its symbiotic relationship with renewable energy generation at its investor day, targeting sustainable sources to pump electricity into its vehicles.
In a tweet last month, the company teased the idea of a Tesla ecosystem: energy generation, energy storage & electric vehicles.
Tesla has unveiled solar roofs in the past to help households charge their EVs. It's possible new developments could come to the fore here on Wednesday.
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