Yesterday, Tesla CEO Elon Musk and other top execs laid out a big-picture vision for the electric vehicle company’s future at its inaugural investor day event. Musk, who recently reclaimed the title of world’s richest person thanks to a $310 billion surge in Tesla stock, called it his “Master Plan 3” (with a straight face) and tried to sell investors on Tesla’s super-long-term goals.
A big chunk of the three-hour presentation was about how to save the world by building a “sustainable energy economy”—a feat Musk estimates will cost $10 trillion. Here are some less lofty details of how Tesla plans to reach that goal:
- Engineers are working to make vehicle assembly cost 50% less.
- The much-delayed Cybertruck will start shipping by the end of this year, lead designer Franz von Holzhausen said.
- “We have a whole lab full of arms and legs,” Musk said, talking about the fleet (army?) of robots Tesla’s been building to do human labor eventually.
If you’re wondering, “Where’s the rest?”…so are investors, who were hoping for bigger news like a next-gen vehicle reveal. Instead, execs just said that a lower-priced car would be produced at a new plant in Mexico and details would come at a later date. Tesla stock fell more than 5% in after-hours trading following the presentation.