Tesla Inc TSLA held its first Investor Day occasion on Wednesday on the Austin, Texas-based Gigafactory, the place CEO Elon Musk unveiled the third a part of his Grasp Plan.

To be able to transition the worldwide economic system to a 100% clear and renewable sustainable power economic system by 2050, Musk believes that Tesla, the corporate, not the automotive, may also help obtain this objective.

What Occurred: Musk acknowledged {that a} huge quantity of battery power storage is required at a really massive scale to attain the transition to sustainable power.

The CEO estimated this is able to take up roughly 0.2% of the whole globe’s floor for wind and photo voltaic options. The overall funding, together with battery factories, recycling factories, new car factories and extra could be roughly $10 trillion — which Musk downplayed as simply round 10% of the whole world’s GDP in 2022.

The scope of labor to get rid of the usage of fossil fuels would come with the next: renewable energy for the present grid, change to electrical automobiles, change to warmth pumps, sustainable gas planes and boats and the supply of excessive temp warmth and hydrogen.

Musk conveyed a message of hope and optimism, saying, “Earth can and can transfer to a sustainable power economic system, and can accomplish that in your lifetime.”

Tesla has already made vital strides towards sustainable power. The corporate’s electrical automobiles are well-received by shoppers, and Tesla’s photo voltaic and power storage companies have skilled spectacular development in recent times.

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The transition to a sustainable power economic system is a monumental activity, however Musk and Tesla are working in the direction of a brighter future. The CEO’s Grasp Plan had all the time been to speed up the world’s transition to sustainable power, and with the revealing of the third a part of the plan, the corporate is making progress towards reaching this objective.

“I would like in the present day to be not nearly Tesla or buyers who personal inventory,” Musk mentioned. “However actually anyone who’s an investor in Earth — what we’re attempting to convey is a message of hope and optimism. Optimism that’s based mostly on precise physics and actual calculations, not simply wishful considering.”

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Picture: Tesla Traders Day 2023 screenshot, Tesla YouTube