Advertisement

Updated March 2nd, 2023 at 00:08 IST

Tesla CEO Elon Musk to unveil 'Master Plan 3' today, what is it?

Tesla CEO Elon Musk is expected to make several major announcements on Wednesday as he seeks to maintain the company's position.

Reported by: Digital Desk
Musk
Image: AP | Image:self
Advertisement

Tesla CEO Elon Musk is expected to make several major announcements on Wednesday as he seeks to maintain the company's position as the leading manufacturer of electric vehicles. Among the expected announcements are plans for a new factory in Monterrey, Mexico - the company's fifth car plant - and the release of the much-anticipated Cybertruck, a futuristic pickup with a stainless steel body.

In addition, Musk may unveil a new generation of advanced batteries and a more affordable Tesla car. These announcements come as Tesla faces increasing competition from established carmakers and Chinese manufacturers. President Andrés Manuel López Obrador of Mexico confirmed on Tuesday that Tesla had decided to build a factory in Monterrey, but Musk is expected to provide further details during Wednesday's presentation, which has been billed as "Master Plan 3."

A cheaper Tesla car?

It has been reported that Elon Musk may revive plans for a cheaper Tesla car, after previously mentioning a $25,000 car in 2020. However, it remains to be seen whether this car would actually be sold at such an affordable price. When the Model 3 was launched in 2017, Tesla had promised it would cost $35,000, but few were sold at that price as the price steadily increased.

Analysts and investors are concerned that Tesla has been too slow to introduce new vehicles and is lagging behind competitors such as Hyundai, Volkswagen, and Ford, who have introduced a wider range of cheaper electric models. General Motors is also set to release three new electric vehicles this year, including an electric version of the Chevrolet Equinox crossover which will be priced around $30,000.

Advertisement

Published March 2nd, 2023 at 00:08 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Whatsapp logo