On Wednesday afternoon Tesla held a presentation for investors after the close of the markets. Billed as the debut of Elon Musk’s third “master plan” for the electric vehicle maker, many fans of the company hoped the event would share concrete details on the long-delayed Cybertruck or an affordable “Model 2” EV.
But after a lengthy disclaimer warning viewers not to put much faith—or perhaps money—in anything that followed, the three-hour livestream provided few new insights into Tesla’s plans to expand its product lineup beyond its current aging offerings. Investors did apparently take note, with the car maker’s stock plunging nearly 6 percent in after-hours trading.
Master plans have been central to the Tesla mythos from its early days. In 2006, two years after joining the company, Musk published “The Secret Tesla Motors Master Plan” on the company’s blog. That plan promised to build a sports car, then use the money from that to build “an affordable car,” then “an even more affordable car,” all while providing zero-emissions energy-generation options.