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Tesla's ambitious "master plan"

Thursday, July 21, 2016 - 01:05

Tesla plans to go beyond electric cars by producing electric pickups, commercial trucks and public buses. But CEO Elon Musk didn't reveal financial details. Fred Katayama reports.

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Elon Musk's so-called "master plan" is ambitious. The Tesla CEO's strategy unveiled in a blog post late Wednesday calls for going well beyond electric cars --- producing electric pickups, commercial trucks, small sport utility vehicles and public buses. The company also plans to get into ride sharing, running its own fleet. And get this: he says all future Tesla vehicles will have fully self-driving capability. All this would put Tesla in competition with big companies and startups that have huge head starts such as General Motors, Daimler, Google, Uber and Lyft. Musk didn't unveil any financial info or specific timelines. Deutsche Bank analyst Rod Lache said, "The document is relatively short on details, and it does not contain any economic or financial objectives." Tesla shares fell in early trading. The company has been losing money, and it has repeatedly gone to the capital markets to raise funds to significantly expand production and develop the first mass-market electric car.

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Tesla's ambitious "master plan"

Thursday, July 21, 2016 - 01:05