DETROIT : Elon Musk will confront a critical challenge during Tesla's Investor Day on March 1: Convincing investors that even though rivals are catching up, the electric-vehicle pioneer can make another leap forward to widen its lead.
While Tesla narrowed VW's lead in Europe, the U.S. automaker surrendered ground in Asia-Pacific as well as its home market as the competition heats up. Over the next two years, rivals including General Motors Co, Ford Motor Co, Mercedes-Benz, Hyundai Motor and VW will unleash scores of new electric vehicles, from a Chevrolet priced below $30,000 to luxury sedans and SUVs that top $100,000.
China's EV makers could get another boost if Chinese battery maker CATL follows through on plans to heavily discount batteries used in their vehicles.Musk has said he will use the March 1 event to outline his"Master Plan Part 3" for Tesla. Tesla's then-novel vertically integrated battery and vehicle production machine helped achieve higher profit margins than most established automakers - even as bigger rivals lost money on their EVs.
Tesla has established a wide lead over its rivals in manufacturing technology - an area where it was struggling when Musk put forward the last installment of his"Master Plan."