Tesla Motors Inc Updates Its Mission Statement Slightly

Tesla Motors Inc Updates Its Mission Statement Slightly
Blomst / Pixabay

Tesla CEO Elon Musk recently tweeted that he is contemplating what’s next for his company after having achieved almost everything outlined in the their 2006 “secret” masterplan. Now while people wait for the new masterplan, Bloomberg reports that the EV firm has quietly changed one word in its mission statement. “Sustainable energy” has replaced “sustainable transport.”

No surprise about the new mission

Tesla’s mission statement reads: “Tesla’s mission is to accelerate the world’s transition to sustainable energy.”

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There is no surprise in this, considering the fact that the company is making efforts to acquire SolarCity even though the looming deal is not garnering any positive response from the market. Based on Tesla’s recent moves, Musk is expected to unveil a new masterplan, but it appears that the new plan will largely resonate the original master plan, and not to forget that a good portion of the original master plan was related to environmental responsibility.

A few weeks ago, Bloomberg even reported that the SolarCity deal is actually far bigger than “just business.” According to the media outlet, Tesla’s bid acquire the biggest U.S. rooftop solar installer is less connected to selling cars. Instead, it’s more about addressing two major concerns facing the next solar boom. Bloomberg noted that Tesla is not just an automaker looking to expand into another business.

“It’s also a battery company that wants to link its two biggest markets: energy supply (solar) with energy demand (electric cars),” the article says.

A “Tesla Town” in making

After acquiring SolarCity, the EV firm plans to offer electric vehicles, energy storage batteries, and solar panels under one roof. Such a move could result in the development of Tesla towns around the world, and it appears that this has already started happening.

The U.S. firm has initiated a project in a suburban area near Melbourne, Australia. Though the official name of the project is YarraBend, it is widely referred to as “Tesla Town” since all the houses under the project will include an EV charging system, rooftop solar panels and Powerwall residential battery system.

Glenvill Group started the project, which currently is home to 60 households, but eventually, it will include 2,500 homes comprising of 3-5 bedroom apartments, homes, and townhouses. The prices of the property will range from AU$1.48 million to 2.1 million (US$1.12 million to 1.6 million).

In pre-market trading today, Tesla shares were down 0.29%. Year to date, the stock is down more than 7%, while in the last year, it is down almost 20%.

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