Elon Musk to unveil Tesla's 'Master Plan 3' at investor day

Elon Musk to unveil Tesla's 'Master Plan 3' at the first investor day. Tesla CEO Musk leaves the company s local office in Washington, Washington.

Elon Musk, the Reuters -- Tesla Inc. chief executive, will reveal the third part of the electric vehicle EV maker's Master Plan when the company holds its first investor day on March 1.

Musk's Master Plans set out a path for Tesla to hit specific targets that he sets for the world's most valuable automaker.

Musk tweeted on Wednesday that Master Plan 3 would be presented as a path to a sustainable energy future for Earth.

Early in 2022, the EV maker started production at two new factories in Austin, Texas and Berlin, Germany to ramp up production, but at the tail end of the year it ran into logistical and demand snags.

He had said at Tesla's annual shareholder meeting in August that the third part of his Master Plan was going to be about scaling - with regards to both the car production and the supply chain that supports it.

It is expected that Tesla will discuss expansion plans, capital allocation and third-generation platform for cars, which is expected to lower production costs at the gigafactory in Texas.

In the second part of his Master Plan, Musk said he wanted to expand the EV product line to address all major segments and develop self-driving capability that is 10 times safer than human driving.

The plan also said that Tesla would create solar roofs tied to battery storage, which would allow cars to earn money when they are not in use.