Tesla and Elon Musk have been feeling the pressure lately. Following incidents involving autopilot-related crashes, declining sales and share prices, and questions over the SolarCity bid, the CEO is now trying to put the spotlight back on his future plans for the company.
Musk sent out a Tweet on Sunday stating his intention to publish the second part of Tesla’s “Top secret masterplan” later this week. Back in August 2006, Musk unveiled the first part of this grand design: the cars that would become the Tesla S and Tesla 3.
Working on Top Secret Tesla Masterplan, Part 2. Hoping to publish later this week.— Elon Musk (@elonmusk) July 10, 2016
It’s speculated that this second stage won't be related to vehicles; instead, it may involve the company’s Powerwall home battery technology. It may also be linked to Tesla’s bid for solar panel installer SolarCity, for which Musk is both chairman and its largest shareholder.
Speaking about the potential deal, which he called a “no-brainer,” Musk said: “Instead of making three trips to a house to put in a car charger and solar panels and battery pack, you can integrate that into a single visit. It’s an obvious thing to do.” Jim Chanos of Kynikos Associates called the bid a “shameful example of corporate governance at its worst.”
Tesla and its CEO were criticized for their actions following the May 7 autopilot-related fatal accident of a Tesla Model S. The pair sold $2 billion worth of Tesla stock just 11 days after the crash, all without releasing any information about the incident.
Tesla also revealed last week that it had missed its projected second quarter delivery target of 17,000 vehicles. The company delivered 14,370 units, causing shares to fall more than 3 percent. Tesla’s stock has dropped by almost 15 percent since April.