Tesla stock plunges 6% after Elon Musk’s ‘master plan’ fails to impress: Report
Elon Musk’s much-hyped third Master Plan for Tesla Inc. fell flat with investors after failing to offer any firm detail on the company’s long-awaited next generation of electric cars.
The four-hour presentation was long on Musk’s vision to build the next phase of Tesla’s growth around a sustainable energy future by moving into products like heat pumps, but short on any detail of new vehicles — especially a cheaper EV like the $25,000 model flagged more than two years ago.
While the 51-year-old chief executive officer confirmed a new plant in Monterrey, Mexico will build the next generation of vehicles, he offered no details on timing, saying a “proper product event” will be held later.
