Musk envisions 'fully sustainable earth' but no new electric cars

San Francisco, March 2 Elon Musk has revealed Tesla's 'Master Plan 3' that includes a path to a sustainable energy future via leading the global effort to eliminate fossil fuels, but no new electric cars.

At Tesla's investor event at the company's Gigafactory in Austin, Texas, he said Tesla will take $10 trillion in investments to bring about this sustainable future powered by renewable energy.

"It is not a big number relative to the global economy," Musk told the audience late on Wednesday.

"There is a clear path to sustainable energy on Earth. It doesn't require destroying natural habitats. It doesn't require us to be austere and stop using electricity and sort of be in the cold or anything," Musk added.

Tesla said its purpose is to accelerate the world's transition to sustainable energy.

Musk said that to achieve this, the infrastructure including wind and solar will take "less than 0.2 per cent" of the Earth's surface.

Tesla believes a sustainable energy economy can be achieved by replacing the existing fleet of combustion vehicles on the road with EVs.

It can be achieved by "using heat pumps in homes/businesses and industry, implementing high-temp heat delivery and storage for industrial processes, transitioning to electric planes and boats and powering everything with renewable generation & stationary storage," said the company.

Tesla said it is developing a powertrain that's more efficient and also doesn't require any rare earth materials.

The company also said the Supercharger network is now open to all EVs in 16 countries, including the US.