CEO Elon Musk provided few details about Tesla’s future plans at its annual investor day on March 1.
The long-awaited annual investor day on March 1 revealed few details about new models, when the Cybertruck would be produced and if Tesla is moving forward with a cheaper $25,000 model.
The electric vehicle maker said a new vehicle manufacturing platform would enable Tesla to cut costs by 50%, but details were not provided.
The goal is to offer low cost vehicles in order to reach the masses who still shy away from electric vehicles because of the often prohibitive prices.
In response, CEO Elon Musk tweeted, “Detailed whitepaper with calculations & assumptions to be released by Tesla shortly.”
But fans and owners of Tesla’s vehicles expressed their dismay at the scant details provided by Musk and the EV maker’s executives.
One person, named “Randeep,” tweeted, “But why would they do that they got our hopes up so much for investors day most of us were expecting future cars or robo taxis I think even most of the analysts were expecting that that’s why they increased the PT too.. this will affect the short run of tsla for sure.”
Even long-time fans of Tesla were not impressed with the lack of new information given at investor day. Dmitriy Strunin remarked on the length of the presentation that lasted four hours. Other companies such as Apple have usually spent only 60 to 90 minutes for their presentations.
“Im not gonna lie you guys need to consolidate the presentation,” he tweeted. “Love the company and its people but that was just too drawn out and unnecessary in my opinion. I think it was overwhelming with detail.”
Another person with a Twitter account of “NJ Citizen” suggested that Tesla emulate Apple’s investor day presentations that are more concise.
The presentation drew the ire of many people, including Mark Pensarn.
“Whoever planned the format and withholding ANY news on the much anticipated new less expensive model , needs to be reprimanded,” he tweeted. “This wasn’t the exciting upbeat presentation we needed . The Info was Superb but delivery poor . Cost a lot of small investors a LOT !!. PR needed .”
Other people commented on Musk and the delivery of statements on the future of Tesla. Last October, Musk took Twitter, a social media platform, private in a $44 billion acquisition and has devoted much of this time and attention on the deal.
Brianna Wu, executive director of Rebellion Pac, tweeted, “I’m watching @elonmusk speak at the Tesla investor day,” she tweeted. “It’s so clear the train wreck of Twitter is having a massive psychological effect on him. He’s clearly tired. His answers are completely incoherent. There’s no vision here. He seems really unhappy.”
Some Tesla fans reacted positively to the presentation. Brian Aroniss tweeted, “That is awesome. Great job everyone The stock went down because people were bored, mostly because they didn’t understand what was being said, it was over their heads. I am stoked!”
Sybill Hill Carter,commended Tesla on its presentation.
“Thank you for hours of information!” she tweeted. “As a long Tesla investor I needed to understand. Applaud the team, the upgrades to cut price on the end product and Tesla vision to a cleaner planet is continuous.