Wall Street Is Confused By Elon Musk’s Master Plan – “Credibility Is Challenged… How Do They Fund It?”

After a much anticipated and dramatic buildup, late last night Elon Musk revealed the details of his “Master Plan, Part Deux”, which as Musk himself summarized is as follows:
Create stunning solar roofs with seamlessly integrated battery storage Expand the electric vehicle product line to address all major segments Develop a self-driving capability that is 10X safer than manual via massive fleet learning Enable your car to make money for you when you aren’t using it As we said at the time, “It’s one of those thing you read twice, three times, and then look at those around you to see if you somehow missed the deep message.” Judging by the litany of responses by the sell-side this morning, we weren’t the only ones confused. As the following reactions from Wall Street analysts, the confusion was far-ranging.
Here are some examples.
From DB’s Rod Lache:
Elon Musk released Part 2 of his ‘Master Plan’ for Tesla. At a high level the document is aimed at explaining how (Tesla’s) actions fit into a ‘larger picture’ of accelerating the advent of sustainable energy. The document is relatively short on details, and it does not contain any economic or financial objectives (these will be needed eventually, as capital markets will be called upon to provide a key ‘material’ for the execution of this plan).
1. Creating an integrated solar energy and battery storage product;
2. Expanding the ‘Tesla Motors’ consumer products that we know (Model S, X, 3) with the addition of a compact SUV and a ‘new kind of pickup truck’; expanding into commercial vehicles such as a Tesla Bus and a Heavy Duty Truck (products that we believe could benefit tremendously from Electrification and Automation); and at the same time achieving revolutionary improvements in manufacturing;

This post was published at Zero Hedge on Jul 21, 2016.