Shulou(Shulou.com)11/24 Report--

March 2-Elon Musk, CEO of Tesla, a US electric car maker, unveiled an exciting new vision at the company's first investor day on Wednesday to drive sustained growth. While the announced goals are ambitious, they lack the details Wall Street investors want.

In reviewing the rapid expansion of electric vehicle generation, Mr Musk and the executive team promised that Tesla would achieve greater growth by streamlining manufacturing processes, optimizing intelligent design and focusing relentlessly on cost.

Musk said at the event: "the path of the earth to completely renewable energy is very clear." Tesla set the ultimate goal of producing 20 million cars a year at this event.

But during the event, Tesla's share price fell because Musk and his team did not disclose details about the next generation of cars or when these new products will come out.

"there are too many ambitions and too few details," Gary Black of Future Fund, an investment advisory group, said on social media Twitter. "(Tesla) has had a lot of discussions on production and engineering, but from 1.8 million deliveries this year to achieving the 20 million delivery target by 2030, it does not involve how to solve the demand side problem," he said. "

The only major announcement worth noting was Musk's confirmation of Tesla's plans to build a new electric car factory in the northern Mexican city of Monterrey.

"We are pleased to announce that we will build a new super factory in Mexico," Musk said. " He added: "this is just to expand our total global production." He also highlighted plans to expand superfactories in places such as California and Shanghai.

Lars Moravy, Tesla's vice president of engineering, said the Mexican superfactory would produce "next-generation" cars "in the next few years", but did not provide more information on specific plans.

Earlier Wednesday, Mexico announced the construction of Tesla's factory, detailing that Tesla would invest 5 billion US dollars to build a new super factory there.

Before the event began, Musk had already said that Wednesday's Investor Day was part of "the planet's path to a fully sustainable energy future."

After years of losses, Tesla's financial performance has made great progress. While the company's factories are increasing and production has increased significantly, Tesla has set a series of impressive profit records.

In the innovation process of the entire automobile industry from fuel vehicles to electric vehicles, Tesla also plays the role of the main catalyst for transportation change.

Despite the remarkable progress, Mr Musk has failed to achieve some of the ambitious goals he has promised.

Currently, Tesla's cheapest Model 3 electric car starts at $43000 in the US market. For a car targeted at the general market, the Model 3 is still too expensive for many consumers.

Musk also missed the promised deadline for the launch of fully self-driving cars, and Tesla's driving assistance technology triggered an investigation by US regulators.

Analysts had hoped that Mr. Musk would elaborate on plans to launch a new car at the Investor Day, or unveil a new design for an electric car that costs about $25000.

While executives outlined fundamental changes to simplify manufacturing, Mr Musk said he was reluctant to transform existing plants because he did not want to suspend production.

"the demand for our cars may be unlimited," Musk said. "the problem is the affordability of consumers."

At the end of the question-and-answer session, Musk interrupted the questioner when asked about the schedule and design of the new car.

"We have to refuse to answer," he said, turning to another analyst. "We will hold a formal product launch, and it would be too hasty for us to answer your question now."

Tesla shares fell 5.6 per cent to $191.40 in after-hours trading on Wednesday.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.