Tesla to reveal plans for a low-cost model at investor day event, analysts expect

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A disappointing outcome to Investor Day, Brauer said, would be more promises by Musk that he can’t keep. He has promised fully autonomous Teslas and big battery breakthroughs for years without delivering.

Tesla is working on a freshened version of the Model 3, according to industry forecasters, and recent spy photos show the sedan, with front and rear camouflage, testing on U.S. roads.

Further details on the update could come Wednesday.

In recent days, Musk posted video of the EV maker’s upcoming Cybertruck pickup at its engineering headquarters in California, and confirmed on Twitter that it will use a new steel alloy for its unpainted exterior panels.

The Cybertruck, first presented in 2019, will go into production this year. While the pickup has hundreds of thousands of reservations, Tesla has not updated its specifications or price. More details could come Wednesday.

Morgan Stanley analyst Adam Jonas said in a research report last week that Tesla has big plans to reduce costs through manufacturing improvements, making a $25,000 vehicle financially viable while cutting costs across its lineup.

“The big picture here is that Tesla has the opportunity to completely reinvent the car manufacturing process,” Jonas said in his Investor Day preview. “With a stated goal of a competitive offering at a $25,000 price point, Tesla will have to make significant progress from their current [cost per vehicle].”

The Tesla event will be held at the company’s factory in Austin, Texas, which doubles as its corporate headquarters.

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