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‘Investor Day’ with Elon Musk: is there a ‘low cost’ Tesla to relaunch the group?

Date: March 29, 2024 Time: 12:42:02

Tesla dresses up before the company’s Investor Day, this Wednesday, March 1, from its Gigafactory in Austin (Texas) and with the highest expectation from investors. Elon Musk himself has been in charge of baptizing his roadmap as Master Plan 3, dressing the announcement in the purest Apple style as “the path to a fully sustainable future for Planet Earth.” Expectations are high but Musk’s penchant for failing also makes him extremely cautious.

Musk has also said that the event is for “the people and the life of the Earth”, adding that “it will be a message of good hope and positivity for the future”. However, Tesla’s scenario today has nothing to do with the optimism of the past. The stock market crash of 2022 and the recovery of more than 100% from the lows it set a few months ago do not hide the increase in competition from other brands, the price cuts that it has had to carry out in China up to four times, the calls to review their cars, delays or labor abuses…

Tesla’s position as a leader in the electric vehicle sector has come into question after Musk has spent nearly a year longer on the disastrous acquisition of Twitter than on running his car company, according to many investors. The billionaire sold Tesla shares valued at

Musk will take the stage as when he announced the Cybertruck and other models in order to promote the company’s product range, as he always does. It’s also an opportunity for him to reset the narrative of Tesla as a disruptor of the auto industry.

So what to expect with the electric vehicle company’s ‘Master Plan 3’? Musk is back to tweeting a lot about solar panels. Tesla’s Twitter account has even shared some diagrams of a revised “Tesla ecosystem,” showing the integrated solar panel, battery in the garage, and home electric vehicle. “The future is bright,” he tweeted on March 1, which could certainly implicate the association of solar energy to battery innovation.

To some experts, this may hint that there will finally be an affordable, solar-powered, smart-charging Tesla in every garage. Musk has been predicting the arrival of a ‘low cost’ electric car for several years (around $25,000) but he parked that possibility because it depends on the evolution of the batteries and the efficiency of their charging, even last year I know that it was not yet possible, according to Reuters.

Even with his wildly uneven list of promises, for many he has set the agenda for the reality we currently live in, either by his own hand or by that of competitors hell-bent on defeating him. But since we’ve seen his priorities change, it’s also wise to be very suspicious of whatever he’s planning.

“Tesla’s main topics coming soon will be extreme size scaling, which is necessary to steer humanity away from fossil fuels, and Artificial Intelligence (AI). But it will also include sections on SpaceX, Tesla, and The Boring Company,” he wrote. Musk on his social network.

The “extreme size” is reminiscent of a last appearance in which Musk predicted that Tesla would eventually surpass the value of Apple ($2.3 trillion market capitalization) and Saudi Aramco ($2.11 trillion) combined, which would equate to a valuation of around 4.5 billion dollars. It is not a new forecast for Musk, who already made similar predictions in 2015 and 2017. But it does sound a bit bold, at least, on the roadmap that has been maintained so far.

Boost in the markets?

With wickers, some experts launch these predictions and how this can be channeled into the markets. Wedbush analyst Dan Levy wrote in a recent report that he expects an event packed with “news selling.” The expert is one of Tesla’s historical bulls. He overweights the company’s shares with a $275 price target for the share, up from $275 at which it currently trades.

Levy expects Tesla to offer an update on its next-generation vehicle. Effectively, a “potentially less expensive” vehicle that could help the company “grow in the coming years.” For now, Tesla vehicles cost about $55,000 on average, which puts them in luxury car territory. “A car priced at $30,000 or less would open up the global auto market much more to the company,” the analyst notes.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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