Tesla unveils its future plans on Investor Day

Elon Musk, CEO of Tesla Inc, heads this Wednesday the Investor Day (Investor’s Day), where it is expected to learn about the main plans of the automotive company, including the installation of a plant in Nuevo León, which will mark a boost to expand its operations outside the United States, with an initial investment of 5,000 million Dollars.

Mexican President Andrés Manuel López Obrador said he spoke twice in the last three days with Tesla CEO Elon Musk and reached an agreement, after saying he would not grant permits to build a factory in the border state. due to lack of water.

The new plant to be installed in the municipality of Santa Catarina, Nuevo León, would be the company’s first outside the United States, Germany and China, and Musk is expected to provide more details at this event.

During the Investor DayMusk is expected to come up with a plan to make a smaller, more affordable electric vehicle, with the goal of broadening his brand’s appeal and fending off the competition.

Capturing the mass market is critical to Tesla’s goal of 15x deliveries – to 20 million vehicles – by 2030. To do this, Tesla will have to improve its battery technology, which Musk has called a “fundamental limiting factor.” , making it a likely topic of his Wednesday speech.

Tesla it has become by far the most valuable car company in the world, and its CEO aims to penetrate the mass market and turn the electric vehicle maker into a firm capable of creating a more climate-friendly world.

The US company has outperformed the industry in recent years, rapidly ramping up deliveries despite the pandemic and supply chain disruptions.

However, the company has cut prices in recent months to boost sales, pressured by the weak economy and growing threats from rivals in the United States and China.

The automaker only has four models, all of which are high-priced.

On Tuesday, Mexican authorities announced that Tesla would build a factory in the northern state of Nuevo León. It would be the company’s first outside the United States, Germany and China, and Musk is expected to provide more details on Wednesday.

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