Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Monday said that he is working on the EV company's fourth master plan.
What Happened: "Working on the Tesla Master Plan 4," Musk wrote on X, formerly Twitter. "It will be epic."
Working on the Tesla Master Plan 4. It will be epic.
— Elon Musk (@elonmusk) June 17, 2024
Master plans outline Tesla's future strategy. The first Master Plan was written by Musk in 2006, during the initial years of the EV company. The focus then was cars. The plan, Musk then said, was to create a low-volume expensive car to generate enough money to develop a medium-volume car which is priced lower and thus forth.
The second master plan, introduced in 2016, focussed on integrating energy generation and storage into the company's portfolio, expanding the company's EV offerings, and developing vehicle autonomy.
The latest master plan— Master Plan 3— was introduced last year and talked about the CEO's vision for large-scale electrification via scaling of the company's auto and energy businesses.
Why It Matters: It is not clear what the focus of the new Master Plan would be. Furthermore, certain outlines laid out in Master Plan 3 are still incomplete.
At Tesla's annual shareholder meeting last week, Musk said, "We're not just opening a new chapter for Tesla, we're starting a new book." The entire presentation, then, was focused on the company's efforts in robotics and vehicle autonomy.
The CEO also teased a third model in the works at the meeting, in addition to the two teased in the master plan last year. However, the two teased last year itself are yet to materialize.
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