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Tesla drops amid disappointment from its investor day

Investors were clearly disappointed, selling Tesla's stock and pushing it 6% lower Thursday.

Tesla (TSLA) shares fell on Thursday after the global electric vehicle (EV) titan’s investor day event revealed no information about future models. After the US opening bell on Thursday, the stock price was down circa 6%, ending the recent uptrend.

Master plan 3

Meanwhile, CEO Elon Musk unveiled an ambitious “Master Plan 3” that calls for a complete transition to electric vehicles and a $10 trillion investment to build a “sustainable energy future.”

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Musk’s worldwide proposal entails enormous energy storage of 240 billion gigawatt hours and sustainable energy output on 0.2% of the Earth’s surface area.

“As we enhance the energy density of batteries, all modes of transportation, with the exception of rockets, will become totally electric,” Musk stated on Wednesday.

His objective is for the electricity system to be entirely renewable and for all households and businesses to transition to EVs and heat pumps. In addition, Musk argues that high-temperature industrial processes must be electrified alongside shipping fleets and aircraft.

Musk asserted that his goal is realizable and a “message of hope and optimism.”

Tesla’s initial Master Plan, unveiled in August 2006, outlined the company’s intention to produce a wide variety of electric vehicles. Musk released his second “Master plan” a decade later. This centered on autonomous driving and battery energy storage devices.

Construction tweaks for new models

Tesla Head of Design Franz von Holzhausen stated, to the displeasure of investors, that the next-generation car will be presented at a later date, and Tesla will only discuss the platform.

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Von Hozhausen stated that the platform’s design is essential. In order to construct a vehicle such as the Cybertruck, Tesla’s engineers had to adopt a novel mindset. According to Tesla, no stamping or painting is required for the panels, so the manufacturing footprint of the Cybertruck is reduced.

Tesla desires to reimagine production; it began this process with the Model Y, in which the battery is a structural component of the car floor. This concept, according to Tesla, will lower prices by 50% and manufacturing footprint by 40%; it will be incorporated into the generation 3 platform design.

Tesla has stated that it will not develop and manufacture motors for the generation 3 platform’s drive unit that includes rare-earth metals.

It looks like the previous swing lows, now key resistance has held, and the price declined from that area, with a possible return of the bear market, at least in the short-term perspective.

Tesla daily chart

Tesla daily chart, source: author´s analysis, tradingview.com

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