Tesla Master Plan 3 Revealed

Master Plan 3 will lead Tesla in the global effort to eliminate fossil fuels and convert the world to sustainable energy. Musk’s plan is to create “a sustainable energy civilization.”

This means adding renewable power to the existing grid, producing more electric vehicles, installing heat pumps in homes and buildings, using high-temperature heat delivery and hydrogen for industrial applications, and building sustainably fueled planes and boats.

Tesla projects it will take $10 trillion in investments to bring about this sustainable future powered by renewable energy. Musk said it’s “not a big number relative to the global economy.”

Part of Musk’s plan involves expanding the world’s energy storage capacity by up to 240TWh. During the course of the event, Tesla executives said this can be accomplished without mining much ore. Musk claimed that it would only need less than 30 percent of all nickel in the Earth.

Musk adds that the infrastructure needed for this, including wind and solar, will take “less than 0.2 percent” of the Earth’s surface. Musk will release a white paper outlining the plan.

“I really wanted today to be not just about Tesla investors who own stock, but really anyone who is an investor in Earth,” Musk said optimistically.

During the live Q&A sessions at Tesla’s Investor Day event, Musk also announced that the company is building its next Gigafactory in Mexico, where it will build a next-generation vehicle.

The facility will be built in the Mexican state of Nuevo León, bordering with Texas — home of Tesla’s Austin Gigafactory. Mexican President Andres Manuel Lopez Obrador confirmed the project will be built in the city of Monterrey.