Huge sustainability plans spelt out by Tesla Motors CEO Elon Musk. The new master plan put forth by Tesla Motors CEO Elon Musk has not impressed its investors fully. They are quite uncertain at this stage as to whether the plan would work for Tesla. You might be aware that Tesla Motors is the youngest American car maker and is known for its popular electric cars. The new ideas put forth by the Tesla Chief have seen a decline of 3.4% of Tesla shares last week in the NASDAQ trading.
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The big goals of Elon Musk are to come out with fully automated urban transit vehicles like the bus system apart from driverless car technology. The Tesla is also looking to create a new energy division and to build heavy duty electric trucks through the California based company, Palo Alto. These are really big and ambitious goals that Tesla CEO has proposed and it looks like these plans will not be a cheap proposition.
Elon said that the company is looking to boost its annual production of its electric autos to tenfold. The company will soon be eliminating the issues of quality that its new electric car Model X crossover is facing. Apart from this, Elon Musk also said that the company is going to inaugurate its huge Lithium-ion battery plant in Nevada next week and it could be called as the Gigafactory.
Tesla Motors has also plans to acquire the SolarCity Corp, a solar power company. Musk is seeking the permission of his board to carry out the desired purchase of the company. This company is run by Musk’s cousins and he is also the chairman and a major investor in the company.
The ambitious plans of Musk are not really impressing the company’s investors. This announcement by him came after the crash of an Autopilot engaged Model X car on July 1 and the reviews put forth by the safety regulators of the US after the fatal crash of the Autopilot system of the Tesla S model in May. These are not considered to be light issues with the investors and they seriously doubt whether the proposed plans of Tesla’s CEO would really work wonders for the company. The investors feel that Musk should be focusing on just producing electric cars at the moment and stop thinking of adding more business ventures. Not all investors are game for the proposed battery powered compact SUV, a public battery bus and the electric semi-truck.
The skeptics say that the Master Plan of Musk does not contain any information as to how these plans could be turned into a reality. The plan is short of financial details even though it has exhilarating visions for the future. It is not just Tesla, but popular automakers like Volkswagen, Daimler AG, Toyota and General Motors are also having plans to come out with electric cars, plug-ins and hybrids to their existing fleet.
Musk has his focus on sustainability and is on a vision to change the thinking of the world. There is no doubt that his followers will be supporting his sustainability goals.