Amid Crash Saga, Tesla CEO Hints At ‘Top Secret Masterplan’

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Amid Crash Saga, Tesla CEO Hints At ‘Top Secret Masterplan’
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Tesla CEO Elon Musk tweeted his intention to publish part two of his “top secret masterplan” later this week.

Musk tweeted on Sunday, “Working on Top Secret Tesla Masterplan, Part 2.”

Followers and analysts are thrilled and are hoping for something big.

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Positive news could help Tesla

Amid inquiries into two crashes of Tesla vehicles, the chief executive tweeted about this masterplan, but he offered no other information about it. But this is not the first time the CEO is tweeting about some “secret masterplan.”

In 2006, Musk revealed the first hints of what would ultimately be the Model S and the Model 3, tweeting, “The Secret Tesla Motors Master Plan (just between you and me).”

After falling short of delivering the goods for the second quarter, the electric car maker could use this good news. In addition, it was announced that the National Highway Traffic Safety Administration (NHTSA) is investigating the autopilot system in the Model S. A driver was killed recently while using it.

The NHTSA was already investigating the May 7 crash in Florida, and now another crash, (a Model X) has come under investigation. On July 1, a driver in Pennsylvania crashed his Model X into a turnpike guardrail. Last week, the NHTSA announced that it is investigating the crash to determine if the automated functions were in use at the time of the crash. Tesla is defending itself, saying it has no reason to believe that the Autopilot system had anything to do with the accident, based on the information it has. Tesla’s autopilot system allows the electric vehicle to maintain speed, keep itself in a lane, and operate the car for a limited time without a driver doing the steering.

Is Tesla diverting attention from negative press?

Tesla is also facing questions regarding Musk’s plans to combine his solar panel company SolarCity with Tesla. The EV maker proposed to buy SolarCity last month. Musk serves as a principal shareholder and chairman in SolarCity. According to Musk, the deal will assist the electric car maker in getting into the market for sustainable energy for businesses and homes. The proposed acquisition has been called a “shameful example of corporate governance at its worst” by Jim Chanos of Kynikos Associates.

No one knows what the secret masterplan is, but it sure is diverting attention from the negative press. Maybe Musk has finally found a way to convince doubtful investors that his proposed merger between SolarCity and Tesla makes sense financially.

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Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@wordpress-785388-2679526.cloudwaysapps.com
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