Elon Musk, at Tesla's Investor Day event on Wednesday, unveiled his plan for a more sustainable planet and showed a video of a humanoid robot. He didn't announce any major updates about the company, disappointing investors.
Little happened at Tesla's Wednesday event after the company announced it would build a new factory in Mexico and gave some details about a new vehicle, but didn't reveal a model. In addition, Tesla leaders announced some changes to the production process without any innovation.
With the lack of new updates, the company's shares fell 6% after the event ended. Several users commenting on the livestream called the nearly three-hour presentation a muddle. Many expected there to be new innovations or updates on a new vehicle such as the highly anticipated Cybertruck, as most of what was presented was already known.
See also: Tesla: Discussions for a new factory soon in Mexico
Elon Musk's presence was important at the presentation as he gave an almost complete picture of his vision for creating a fully sustainable earth, a plan that apparently had nothing to do with Tesla but only with the need for electric cars.
The most likely scenario is that after the long and very technical presentation, Musk will face further criticism that he is too busy with Twitter as he struggles to come up with creative ideas for Tesla. Shareholders have been pressuring him enough to pay more attention to the company that made him the richest man in the world.
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After the $44 billion acquisition of Twitter, the company has lost almost half of its value due to the dedication Musk showed to the social networking platform, resulting in shareholders pressuring him to show the same dedication to the automotive industry.
However, Tesla has faced several obstacles in recent years, the most recent being the supply and demand chain for vehicle production. The company had promised a farm truck, called the Cybertruck, but the model – with its strange design – has not yet been produced since it was announced in 2019. In general, Tesla has promised a lot and only a few of them have taken shape, such as the Tesla Semi.
Read also: Tesla Cybertruck: Production will not begin before 2024
Finally, after announcing the new Palo Alto factory, Musk gave a short speech about the humanoid robots the company is developing. Like a sci-fi scene from “Westworld,” he showed a video of two Optimus robots assembling a third. Tesla announced the robots last year, but there’s been no update on when they’ll hit the market.
