Elon Musk has unveiled his “Master Plan 3” vision, where Tesla will lead the global effort to eliminate fossil fuels and transform the world into sustainable energy. In short, Tesla Master Plan 3 is a vision statement based on producing more electric cars, the transition to renewable energy and sustainability.

With Tesla Master Plan 3, Musk plans to add renewable energy to the existing grid, produce more electric vehicles, install heat pumps in homes and buildings, use industrial applications hydrogen, and build sustainable fueled airplanes and boats. Musk’s plan is to create a “sustainable energy civilization”.

10 trillion dollars investment

Tesla estimates it will take $10 trillion in investment to realize this sustainable future powered by renewable energy. Musk said this is “not a huge number relative to the global economy.” “There is a clear path to sustainable energy on Earth. It doesn’t require the destruction of natural habitats. It doesn’t require us to be tough, stop using electricity, and be out in the cold,” Musk said.

A big part of achieving this vision is to increase the world’s energy storage capacity to 240 TWh. Tesla executives said this could be accomplished without the need to extract significant amounts of ore. Musk claims that only less than 30 percent of all nickel on Earth will be needed.

Musk said that renewable energy facilities, including wind and solar, and the installation required for the plan will cover “less than 0.2 percent” of the Earth’s surface. It is unclear how all this will happen, but Musk promised that a directive will be prepared shortly.

There are question marks about the plan

The Master Plan 3 announcement was made at Tesla’s Texas Gigafactory facility, and contrary to expectations, no new vehicles were mentioned. Tesla just showcased its more efficient production line. This assembly line aims to build the vehicle only once, and this includes the paint process. Tesla also said that it will not use rare earth minerals in its next-generation propulsion units.

On the other hand, although Tesla achieved the first Master Plan goals announced in 2006, the Master Plan 2 goals in 2016 were largely unfulfilled. Master Plan 2 envisioned growth in solar energy, multiple vehicles in all major categories, fully autonomous systems, and a robotaxis network aimed at drivers generating passive income with Tesla vehicles. Only small steps have been taken in these.