Elon Musk

Tesla CEO Elon Musk. Image source: Tesla Motors.

About 10 years after Tesla Motors (NASDAQ:TSLA) unveiled its first "Master Plan," the company just unveiled a "Part Deux."

Part one of Tesla's master plan included a vision to create a low-volume, pricey car (the Tesla Roadster), a medium-volume car at a lower price (the Model S and X), and a high-volume car at a more affordable price (Model 3). The plan also included a vision to "provide zero emission electric power generation options." Tesla is currently working on the second half of this plan, bringing to market its high-volume car by late next year, and recently making an offer to acquire SolarCity in order to pair solar panels with its energy storage products for a complete energy solution.

Part two details a vision of "a smoothly integrated and beautiful solar-roof-with-battery product that just works," self-driving cars, a ride-sharing service, and a broader expansion into new vehicle types, including a compact SUV, a pickup, heavy-duty trucks, high-passenger-density urban transport, and more.

While the plan itself includes more details, Tesla CEO Elon Musk summed up the plan more simply at the end of his Wednesday-evening blog post.

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

Does it matter?

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Tesla's vision for the future will undoubtedly shape its actions today. With a better idea of where Tesla wants to go, investors can begin to attempt to process the implications this will have on the business. But the very forward-looking nature of this vision makes understanding exactly how these plans will affect the stock over the long haul an extremely difficult task.

Investors should think of Tesla's master plan as less of an event and more of a blueprint to keep an eye on as the company continues to grow.

Stay tuned at The Motley Fool for a closer look at Tesla's updated master plan and what it means for investors.

Daniel Sparks owns shares of SolarCity and Tesla Motors. The Motley Fool owns shares of and recommends SolarCity and Tesla Motors. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.