Tesla’s ‘Master Plan’ Fails to Impress Investors: What Went Wrong?

Image Source: economictimes.indiatimes.com

Tesla’s stock dropped about 7% after CEO Elon Musk and his team’s nearly four-hour talk fell short of the expectations of investors.

Musk and more than a dozen execs unveiled brand-new plans to slash assembly costs in half.

Drew Baglino, verified that construction on the company’s lithium refinery in Corpus Christi, Texas, has begun.

The Corpus Christi lithium plant hopes to begin production within a year.

Tesla confirmed that the Cybertruck would be released this year, with mass manufacturing beginning in 2024.

Tesla released its two prior strategic plans in 2006 and 2016.

Tesla also intends to provide limitless overnight home charging in Texas for $30 per month.

Tesla’s first master plan intended on developing an electric sports car first, followed by a line of more affordable vehicles.

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