Tesla held its Investor Day on Wednesday in Austin, Texas, where the EV company unveiled its "Master Plan 3."
During the presentation, various Tesla executives joined CEO Elon Musk as the company shared its vision of creating more sustainable energy sources. The presentation was short on specifics regarding any new Tesla models or services.
Musk and Tesla's senior vice president of powertrain and energy engineering, Drew Baglino, discussed Tesla's role in re-powering the grid with renewable fuels.
- Tesla aims to produce 20 million electric vehicles annually by 2030.
- Tesla delivered about 1.31 million vehicles in 2022.
- Tesla's powertrain vice president, Colin Campbell, said the company is working on a new drive unit compatible with any battery cell type.
- Tesla is also developing a motor that will be built without rare earth metals.
- On Tuesday, Mexican President Andres Manuel Lopez Obrador announced that Tesla plans to build a new plant in Monterrey, Mexico.
- He said Tesla agreed to use recycled water and take other initiatives to cope with water scarcity in the region.
- Tesla shares fell more than 5% during extended trading on Wednesday following the company's Investor Day presentation.
