A new Investor Day is also just around the corner.
Tesla has announced that its next Investor Day will take place on March 1, 2023 where it will provide the first details about a new vehicle platform. The press release, which is rare from Tesla, provided no additional details. It states the following:
"We plan to host Tesla's 2023 Investor Day on March 1, 2023. The event will be live streamed from our Gigafactory Texas, with the option for some of our institutional and retail investors to attend in person (details to follow). Our investors will be able to see our most advanced production line as well as discuss long-term expansion plans, generation 3 platform, capital allocation and other subjects with our leadership team."
We should point out that this event is not intended to be a shareholder meeting, so the planned announcements are much more geared toward the general public.
But the most interesting piece of information could be the "generation 3 platform." The Model S, despite the numerous OTA updates and the semi-recent facelift, was launched way back in 2012, making it one of the oldest EVs on the market today.
It's entirely possible the new platform could underpin a successor, as well as a second-generation Model X since both vehicles share a platform. It's probably too early for the Model 3 and Model Y to undergo a complete redesign, though we wouldn't rule anything out. A more affordable vehicle is another possibility.
Additional information from the EV automaker is unavailable for now, and it no longer has a media relations department for us to seek clarification. What also caught our attention in today's release is the "long term expansion plans." Getting Cybertruck production up and running is definitely a goal for 2023, as is expanding Model Y output at the Texas Gigafactory.
Recently, Tesla Shanghai officials came to the US to inspect both the Texas and California factories, supposedly to find ways to boost output. The Shanghai Gigafactory very successfully managed to increase production capacity following pandemic-related lockdowns. Tesla CEO Elon Musk wants to see that happen at all factories.
Lastly, the release mentions "capital allocation." This topic might involve the stock buyback program Musk mentioned last fall, but we're purely speculating at this time.