Tesla Investor Day 2023: Agenda and Expectations

Tesla

Tesla's Investor Day 2023 will be "a message of good hope & positivity for the future," according to a tweet from Elon Musk a few weeks ago. The event generates hype among Tesla enthusiasts and investors as they anticipate what the company will reveal.

Cybertruck Insight

At check-in, which begins at 11:00 am CST, lucky ticket holders can take factory tours and "Plaid Demo Rides," which may include the Cybertruck. This futuristic vehicle appeared at the opening of the new Engineering Headquarters last week. A closer look would be advantageous for the company, given the millions of Cybertruck reservations already made. In addition, investors could get a better look at many features of the Cybertruck that are still unknown, such as the design of the user interface and a closer look at Hardware 4.

Investor Day Agenda (All times CST)

11 am: Event Check-In

11 am - 2:45 pm: Factory Tours and Plaid Demo Rides

3:00 pm - 4:30 pm: Keynotes

4:30 pm - 5:30 pm: Q&A

5:30 pm - 7:00 pm: Meet & Greet

Master Plan Part 3

At 3:00 pm, the keynote speeches will take place, during which Musk will unveil his Master Plan Part 3. These plans have served as the roadmap for Tesla, providing insight into the mind of the company's founder. The first plan focused on using the profits from producing an electric sports car to fund a more affordable vehicle, which eventually led to the development of the Model S.

Master Plan Part Deux expanded on this idea, addressing more transportation needs and touching on solar energy, battery storage, full self-driving, and robotaxi. The upcoming Master Plan Part 3 is expected to detail production scaling and introduction of the new, more affordable Tesla and a mini van-type unit.

New Giga-Factory

Tesla also needs to increase its production capacity, and rumors continue to swirl that the next Giga factory could be located in Mexico. There were reports that Musk talked with the president of Mexico for nearly an hour.

Critics with Questions

The question-and-answer portion of the agenda is slated to begin at 4:30 pm. After a tumultuous couple of months, investors may have some pointed questions about the company's future. Many high-profile investors were up in arms as the stock tanked at the end of December, demanding the board of directors step in and control their brash CEO. Musk was, and continues to make waves with his new company, Twitter. The company will also have to answer for its recent struggles with recalls and pausing the rollout of the full self-driving beta to new owners.

Overall, Tesla's Investor Day 2023 promises to be an exciting event, providing a glimpse into the company's future and answering some big questions.

Check back tomorrow, Wednesday, March 1st for a direct feed of the event, which should include the keynotes and Q&A sessions.

Musk Teases New Model for Early 2025 That Will Use a Mix of Next-Gen and Current Platforms

“We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025”. This was one of the key sentences that were part of Tesla’s deck shared on Tuesday directly before its financial results.

Since Reuters’ report a few weeks ago saying Tesla had “scrapped” the highly expected cheaper model— which Elon quickly denied on X —retail and institutional shareholders started asking for more details on Tesla’s product roadmap for 2024 and beyond.

In the earnings conference call, Elon Musk reiterated that Tesla expects to launch the next model in “early 2025, if not late this year”.

“We've updated our future vehicle lineup to accelerate the launch of new models ahead of previously mentioned start of production in the second half of 2025. So, we expect it to be more like the early 2025, if not late this year. “

Over concerns of temporary production halts to update the factories for these new models, Musk said that Tesla will produce new models with certain aspects from their next-generation platform and current models. This will reduce the number of changes needed on production lines and allow Tesla not only to ramp up production faster but also to get the vehicles to market quicker.

Model Y Redesign

Tesla appears to hit that their next-gen vehicle will be less “next-gen” than they were initially aiming for, but to get a new vehicle out the door by late 2024, the process would already have to be in motion. Tesla may likely be referring to the redesigned Model Y, which is expected to reuse many parts from the new Model 3. Earlier this year, Tesla said that the redesigned Model Y will not be released this year, so it makes sense that they’re looking to speed up that production.

Tesla CEO concluded by saying that these measures will allow Tesla to reach a capacity of over 3 million units. Tesla produced 1.84 million vehicles in 2023. However, this year they’re ramping up Cybertruck production and introduced the new Model 3 into new markets.

And we think this should allow us to get to over 3 million vehicles of capacity when realized to the full extent.

Tesla reported on Tuesday its earnings results followed by a conference call where it teased its upcoming Robotaxi and its next-generation platform saying its “purpose-built Robotaxi product will continue to pursue a revolutionary ‘unboxed’ manufacturing strategy”.

Earlier in the day, Tesla announced the new Performance variant of its sedan Model 3 with deliveries in the United States starting already next month. The new version starts at $45,490 (after applying the $7,500 Federal EV tax credit) and goes from 0 to 60mph in 2.9 seconds.

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Tesla on FSD: Close to License Deal With Major Automaker, Announces Miles Driven on FSD v12

On Tuesday Tesla reported its earnings results followed by a conference call that brought several updates on the company’s roadmap for future vehicles, autonomous driving, Optimus and much more.

While answering a question from Goldman Sachs analyst Mark Delaney about updates on the licensing of Tesla’s Full Self-Driving (FSD) technology, Elon Musk said they’re talking to one major auto manufacturer and there’s “a good chance” the company signs the first deal before year-end. However, he went on to say that it would probably be three years before the necessary changes are integrated into the car.

I think we have a good chance we do sign a deal this year

Brings Benefits to Tesla

The technology would require other automakers to start using the same cameras and hardware as Tesla, meaning that Tesla may not only generate money from licensing FSD but also from selling the hardware itself. However, there would be other benefits as well. When licensing FSD, Tesla would likely own the data gathered with the system well, further helping them with data and edge cases that need to be solved to reach full autonomy.

people don't understand all cars will need to be smart cars… Once that becomes obvious, I think licensing becomes not optional.

Tesla’s Chief Financial Officer Vaibhav Taneja commented pointing out that future partners “take a lot of time in their product life cycle” resulting in a gap between the deal signing and the arrival in the market of Tesla’s FSD software.

Miles Driven With FSD

On the conference call, Musk added that Tesla now has over 300 million miles that have been driven with FSD v12 since it was launched just last month. He added that it's becoming “very clear that the vision-based approach with end-to-end neural networks is the right solution for scalable autonomy”.

Tesla said it will continue to increase its “core AI infrastructure capacity in the coming months” adding that in the first quarter, it completed the transition to hardware 4.0 with China now receiving the upgraded FSD computer and cameras.

Over the weekend, Tesla reduced the price of FSD dropping it from $12,000 to $8,000 for customers in the United States and from CA$16,000 to CA$11,000 in Canada.

Earlier this month, Tesla implemented a 50% price reduction for FSD subscriptions in the U.S. and introduced the subscription model in Canada at a great value of CA$99 per month.

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